Abbott Laboratories (ABT) Holdings Raised by Redpoint Investment Management Pty Ltd
Redpoint Investment Management Pty Ltd raised its position in Abbott Laboratories (NYSE:ABT) by 20.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 102,909 shares of the healthcare product maker’s stock after buying an additional 17,816 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Abbott Laboratories were worth $6,276,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ABT. HC Financial Advisors Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth about $836,000. FDx Advisors Inc. grew its holdings in Abbott Laboratories by 9.3% during the first quarter. FDx Advisors Inc. now owns 54,638 shares of the healthcare product maker’s stock worth $3,274,000 after acquiring an additional 4,644 shares during the period. Howland Capital Management LLC grew its holdings in Abbott Laboratories by 9.8% during the first quarter. Howland Capital Management LLC now owns 39,254 shares of the healthcare product maker’s stock worth $2,352,000 after acquiring an additional 3,510 shares during the period. Daiwa Securities Group Inc. grew its holdings in Abbott Laboratories by 6.1% during the first quarter. Daiwa Securities Group Inc. now owns 153,064 shares of the healthcare product maker’s stock worth $9,172,000 after acquiring an additional 8,865 shares during the period. Finally, Montag & Caldwell LLC acquired a new stake in Abbott Laboratories during the first quarter worth about $97,503,000. 72.48% of the stock is owned by hedge funds and other institutional investors.
Shares of ABT opened at $67.02 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Abbott Laboratories has a 12 month low of $49.49 and a 12 month high of $67.36. The company has a market capitalization of $117.17 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.53.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, July 12th. Abbott Laboratories’s payout ratio is currently 44.80%.
In other Abbott Laboratories news, insider Sharon J. Bracken sold 615 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total value of $40,073.40. Following the sale, the insider now directly owns 40,761 shares of the company’s stock, valued at $2,655,986.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Pederson sold 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total value of $66,601.50. Following the completion of the sale, the insider now directly owns 79,467 shares in the company, valued at $5,040,591.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,024 shares of company stock worth $1,088,840. 0.74% of the stock is owned by corporate insiders.
Several analysts recently commented on the company. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Sanford C. Bernstein assumed coverage on Abbott Laboratories in a report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Stifel Nicolaus raised their target price on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $69.88.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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