Cincinnati Financial Corp held its stake in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 237,800 shares of the healthcare product maker’s stock at the end of the 2nd quarter. Cincinnati Financial Corp’s holdings in Abbott Laboratories were worth $11,559,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABT. Girard Partners LTD. grew its position in Abbott Laboratories by 12.4% in the 1st quarter. Girard Partners LTD. now owns 98,433 shares of the healthcare product maker’s stock worth $4,371,000 after purchasing an additional 10,867 shares during the last quarter. Boston Partners grew its position in Abbott Laboratories by 5,663.7% in the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after purchasing an additional 8,069,557 shares during the last quarter. Henderson Group PLC grew its position in Abbott Laboratories by 18.8% in the 1st quarter. Henderson Group PLC now owns 226,675 shares of the healthcare product maker’s stock worth $10,070,000 after purchasing an additional 35,836 shares during the last quarter. HPM Partners LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $2,447,000. Finally, Pekin Singer Strauss Asset Management IL grew its position in Abbott Laboratories by 0.5% in the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock worth $980,000 after purchasing an additional 108 shares during the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on ABT. Cowen and Company reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, September 22nd. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.81.

Shares of Abbott Laboratories (NYSE ABT) opened at $54.83 on Thursday. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69. The company has a market cap of $95,750.45, a P/E ratio of 22.83, a P/E/G ratio of 2.06 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 28.8% on a year-over-year basis. equities analysts predict that Abbott Laboratories will post 2.5 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were issued a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

In other news, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders have sold 211,763 shares of company stock worth $11,476,131 in the last 90 days. 0.76% of the stock is owned by company insiders.

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Abbott Laboratories Company Profile

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.

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

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