Fort Pitt Capital Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 472,856 shares of the healthcare product maker’s stock after purchasing an additional 555 shares during the quarter. Abbott Laboratories comprises approximately 2.2% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 23rd biggest holding. Fort Pitt Capital Group LLC’s holdings in Abbott Laboratories were worth $22,986,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Villere ST Denis J & Co. LLC lifted its holdings in shares of Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after buying an additional 5,950 shares in the last quarter. Private Bank & Trust Co. lifted its holdings in shares of Abbott Laboratories by 12.3% in the second quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares in the last quarter. Gratus Capital LLC lifted its holdings in shares of Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after buying an additional 1,869 shares in the last quarter. Comerica Securities Inc. purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $2,833,000. Finally, AQR Capital Management LLC raised its stake in Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after purchasing an additional 460,477 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.

Abbott Laboratories (NYSE:ABT) opened at $55.06 on Thursday. The company has a market cap of $96,951.48, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. Abbott Laboratories has a one year low of $37.90 and a one year high of $56.69. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. sell-side analysts predict that Abbott Laboratories will post 2.49 EPS for the current fiscal year.

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

In other news, insider Jaime Contreras sold 52,700 shares of the firm’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 value of $2,738,819.00. Following the transaction, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the transaction, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold 588,013 shares of company stock worth $32,023,946 in the last 90 days. Company insiders own 0.76% of the company’s stock.

ABT has been the topic of a number of recent analyst reports. 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. Royal Bank of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.56.

COPYRIGHT VIOLATION WARNING: “Fort Pitt Capital Group LLC Raises Holdings in Abbott Laboratories (ABT)” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/12/14/fort-pitt-capital-group-llc-raises-holdings-in-abbott-laboratories-abt.html.

Abbott Laboratories 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.