Pettyjohn Wood & White Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,466 shares of the healthcare product maker’s stock after purchasing an additional 169 shares during the period. Abbott Laboratories comprises approximately 1.4% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 26th biggest position. Pettyjohn Wood & White Inc.’s holdings in Abbott Laboratories were worth $4,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. FMR LLC grew its holdings in shares of Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after acquiring an additional 65,260 shares in the last quarter. Geode Capital Management LLC lifted its stake in Abbott Laboratories by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after purchasing an additional 1,778,840 shares during the last quarter. Norges Bank purchased a new position in Abbott Laboratories in the fourth quarter valued at approximately $1,239,454,000. Janus Henderson Group PLC lifted its stake in Abbott Laboratories by 0.9% in the second quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after purchasing an additional 149,307 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Abbott Laboratories by 8.8% in the fourth quarter. Legal & General Group Plc now owns 8,343,002 shares of the healthcare product maker’s stock valued at $603,446,000 after purchasing an additional 672,358 shares during the last quarter. 73.42% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on ABT shares. Cowen upped their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley upped their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Raymond James upped their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. BMO Capital Markets upped their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Co upped their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $85.82.

In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the sale, the chief financial officer now owns 125,781 shares in the company, valued at $10,788,236.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the sale, the senior vice president now owns 104,228 shares in the company, valued at approximately $9,004,256.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 885,102 shares of company stock worth $71,110,429. Company insiders own 0.70% of the company’s stock.

Shares of NYSE:ABT traded up $0.84 during trading on Friday, hitting $84.78. 5,496,100 shares of the company were exchanged, compared to its average volume of 5,113,646. The company has a market cap of $149.84 billion, a PE ratio of 29.44, a P/E/G ratio of 2.36 and a beta of 1.12. The stock has a 50 day moving average of $85.81 and a 200 day moving average of $79.81. Abbott Laboratories has a 52-week low of $64.03 and a 52-week high of $88.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.51%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Further Reading: Return on Equity (ROE)

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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