State of Wisconsin Investment Board boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,039,538 shares of the healthcare product maker’s stock after buying an additional 52,538 shares during the period. State of Wisconsin Investment Board’s holdings in Abbott Laboratories were worth $90,576,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after buying an additional 3,344,508 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Abbott Laboratories by 33.8% in the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after buying an additional 2,231,316 shares during the period. Boston Partners increased its stake in shares of Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after buying an additional 8,069,557 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Abbott Laboratories by 13.5% in the first quarter. UBS Asset Management Americas Inc. now owns 7,406,236 shares of the healthcare product maker’s stock worth $328,911,000 after buying an additional 881,235 shares during the period. Finally, Swiss National Bank increased its stake in shares of Abbott Laboratories by 45.3% in the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock worth $289,943,000 after buying an additional 2,035,170 shares during the period. Institutional investors and hedge funds own 71.64% of the company’s stock.

Shares of Abbott Laboratories (ABT) traded up 0.75% on Monday, reaching $49.72. The company had a trading volume of 911,885 shares. The firm has a market capitalization of $86.39 billion, a PE ratio of 69.64 and a beta of 1.07. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The company’s 50-day moving average is $49.25 and its 200 day moving average is $46.20.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the company earned $0.55 EPS. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Wednesday, July 12th. Abbott Laboratories’s payout ratio is 149.30%.

TRADEMARK VIOLATION NOTICE: “Abbott Laboratories (ABT) Shares Bought by State of Wisconsin Investment Board” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/28/abbott-laboratories-abt-shares-bought-by-state-of-wisconsin-investment-board.html.

ABT has been the subject of a number of research analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a report on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Finally, Stifel Nicolaus boosted their price target on Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $52.14.

In related news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at $10,188,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders sold a total of 415,252 shares of company stock valued at $19,878,958 over the last quarter. 0.76% of the stock is owned by corporate insiders.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

Receive News & Stock Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related stocks with our FREE daily email newsletter.