Harding Loevner LP Buys 940 Shares of Abbott Laboratories (ABT)
Harding Loevner LP increased its position in Abbott Laboratories (NYSE:ABT) by 0.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,612,665 shares of the healthcare product maker’s stock after buying an additional 940 shares during the period. Harding Loevner LP owned about 0.18% of Abbott Laboratories worth $110,489,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Jarislowsky Fraser Ltd raised its stake in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock worth $1,060,533,000 after buying an additional 16,664,605 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock worth $1,423,400,000 after buying an additional 5,115,232 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Abbott Laboratories by 51.5% in the second quarter. Flossbach Von Storch AG now owns 14,514,773 shares of the healthcare product maker’s stock worth $570,576,000 after buying an additional 4,936,655 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Abbott Laboratories during the second quarter worth approximately $162,264,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Abbott Laboratories by 34,061.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,998,999 shares of the healthcare product maker’s stock worth $117,890,000 after buying an additional 2,990,220 shares in the last quarter. 72.33% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories (NYSE:ABT) traded up 0.46% on Friday, reaching $39.16. The company had a trading volume of 2,733,423 shares. The stock’s 50 day moving average price is $40.11 and its 200-day moving average price is $40.95. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.22. The stock has a market capitalization of $57.66 billion, a PE ratio of 42.75 and a beta of 0.94.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 114.29%.
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ABT has been the subject of a number of recent research reports. TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Bank of America Corp. reaffirmed a “buy” rating and issued a $50.00 target price on shares of Abbott Laboratories in a report on Friday, August 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Monday, September 19th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, Jefferies Group upped their target price on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Seven 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.02.
In related news, Chairman Miles D. White bought 121,456 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was acquired at an average price of $40.45 per share, with a total value of $4,912,895.20. Following the transaction, the chairman now owns 2,802,558 shares in the company, valued at approximately $113,363,471.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of Abbott Laboratories stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. 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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