Candriam Luxembourg S.C.A. Purchases 564,323 Shares of Abbott Laboratories (ABT)
Candriam Luxembourg S.C.A. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 412.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 701,259 shares of the healthcare product maker’s stock after buying an additional 564,323 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Abbott Laboratories were worth $27,568,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in ABT. Mn Services Vermogensbeheer B.V. bought a new stake in Abbott Laboratories during the first quarter worth $1,368,000. Commonwealth Equity Services Inc increased its stake in Abbott Laboratories by 2.5% in the first quarter. Commonwealth Equity Services Inc now owns 469,791 shares of the healthcare product maker’s stock worth $19,651,000 after buying an additional 11,365 shares during the last quarter. Telemus Capital LLC bought a new stake in Abbott Laboratories during the first quarter worth $1,238,000. Sanders Morris Harris Inc. bought a new stake in Abbott Laboratories during the first quarter worth $515,000. Finally, Sii Investments Inc. WI increased its stake in Abbott Laboratories by 36.2% in the first quarter. Sii Investments Inc. WI now owns 17,696 shares of the healthcare product maker’s stock worth $737,000 after buying an additional 4,705 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) remained flat at $42.97 during trading on Friday. The company’s stock had a trading volume of 7,249,757 shares. The company has a market capitalization of $63.17 billion, a price-to-earnings ratio of 28.36 and a beta of 0.87. The firm’s 50-day moving average price is $42.27 and its 200-day moving average price is $41.37. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post ($0.01) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.26 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.42%. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
A number of research firms have weighed in on ABT. Bank of America Corp. reaffirmed a “buy” rating and set a $50.00 price objective on shares of Abbott Laboratories in a report on Friday, August 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Jefferies Group lifted their price objective on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a research note on Wednesday, August 10th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $47.02.
In related news, Chairman Miles D. White bought 242,547 shares of the business’s stock in a transaction on Monday, July 25th. The shares were purchased at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the transaction, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Funck sold 26,800 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $43.08, for a total transaction of $1,154,544.00. Following the completion of the sale, the vice president now owns 111,819 shares in the company, valued at approximately $4,817,162.52. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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