Gratus Capital LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 205,067 shares of the healthcare product maker’s stock after acquiring an additional 1,869 shares during the quarter. Abbott Laboratories accounts for about 1.4% of Gratus Capital LLC’s portfolio, making the stock its 10th biggest holding. Gratus Capital LLC’s holdings in Abbott Laboratories were worth $9,968,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in Abbott Laboratories by 76.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock valued at $221,536,000 after acquiring an additional 1,969,723 shares during the period. Sullivan Bruyette Speros & Blaney LLC boosted its stake in Abbott Laboratories by 1.6% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 18,052 shares of the healthcare product maker’s stock worth $878,000 after purchasing an additional 278 shares during the last quarter. Motco boosted its stake in Abbott Laboratories by 213.7% during the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 1,962 shares during the last quarter. Homrich & Berg boosted its stake in Abbott Laboratories by 31.7% during the 2nd quarter. Homrich & Berg now owns 8,480 shares of the healthcare product maker’s stock worth $412,000 after purchasing an additional 2,039 shares during the last quarter. Finally, Allen Investment Management LLC boosted its stake in Abbott Laboratories by 45.3% during the 2nd quarter. Allen Investment Management LLC now owns 11,627 shares of the healthcare product maker’s stock worth $565,000 after purchasing an additional 3,627 shares during the last quarter. 70.64% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Abbott Laboratories (ABT) is Gratus Capital LLC’s 10th Largest Position” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.thecerbatgem.com/2017/11/18/abbott-laboratories-abt-is-gratus-capital-llcs-10th-largest-position.html.

ABT has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, October 31st. Bank of America Corporation reaffirmed a “buy” rating and set a $60.00 target price (up previously from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Barclays PLC reaffirmed an “overweight” rating and set a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $56.81.

Shares of Abbott Laboratories (NYSE ABT) opened at $55.56 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69. The firm has a market cap of $96,670.00, a P/E ratio of 22.83, a P/E/G ratio of 2.06 and a beta of 1.55.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 87.60%.

In other news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the sale, the insider now directly owns 144,955 shares of the company’s stock, valued at $7,972,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders sold 282,920 shares of company stock valued at $15,389,766 over the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

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.

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.