Flossbach Von Storch AG Has $570,576,000 Stake in Abbott Laboratories (ABT)
Flossbach Von Storch AG increased its position in Abbott Laboratories (NYSE:ABT) by 51.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,514,773 shares of the healthcare product maker’s stock after buying an additional 4,936,655 shares during the period. Abbott Laboratories comprises 9.8% of Flossbach Von Storch AG’s portfolio, making the stock its largest position. Flossbach Von Storch AG owned about 0.99% of Abbott Laboratories worth $570,576,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in ABT. Parasol Investment Management LLC raised its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. CapWealth Advisors LLC raised its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. Delta Asset Management LLC TN raised its position in Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares during the last quarter. Finally, Cribstone Capital Management LLC acquired a new position in Abbott Laboratories during the second quarter valued at approximately $150,000. 73.00% of the stock is owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.49% during mid-day trading on Monday, hitting $40.59. The stock had a trading volume of 7,252,727 shares. The stock has a market cap of $59.67 billion, a price-to-earnings ratio of 26.79 and a beta of 0.87. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38. The firm has a 50 day moving average of $41.89 and a 200 day moving average of $41.37.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post $2.20 earnings per share 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 issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.56%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.87%.
Several equities analysts recently commented on ABT shares. Jefferies Group dropped their target price on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, September 13th. TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Bank of America Corp. reiterated a “buy” rating and issued a $50.00 target price on shares of Abbott Laboratories in a research note on Friday, August 12th. 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, Deutsche Bank AG reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Tuesday, August 9th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.02.
In other Abbott Laboratories news, insider Stephen R. Fussell sold 41,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares in the company, valued at $8,841,015. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Miles D. White bought 242,547 shares of the business’s stock in a transaction on Monday, July 25th. The shares were bought at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the acquisition, the chairman now owns 2,010,517 shares of the company’s stock, valued at $86,814,124.06. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.
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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