Eagle Bluffs Wealth Management LLC boosted its holdings in Abbott Laboratories (NYSE:ABT – Get Rating) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,025 shares of the healthcare product maker’s stock after buying an additional 1,737 shares during the period. Abbott Laboratories makes up about 1.3% of Eagle Bluffs Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Eagle Bluffs Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,198,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Jennison Associates LLC boosted its holdings in Abbott Laboratories by 80.5% during the second quarter. Jennison Associates LLC now owns 10,925,104 shares of the healthcare product maker’s stock worth $1,187,013,000 after buying an additional 4,872,961 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Abbott Laboratories by 83.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock valued at $582,924,000 after purchasing an additional 2,235,314 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 1.4% in the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock valued at $17,906,500,000 after purchasing an additional 2,136,177 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Abbott Laboratories by 99.8% during the first quarter. Renaissance Technologies LLC now owns 3,140,866 shares of the healthcare product maker’s stock worth $371,753,000 after buying an additional 1,568,700 shares during the period. Finally, Flossbach Von Storch AG raised its position in Abbott Laboratories by 18.2% in the 1st quarter. Flossbach Von Storch AG now owns 7,081,582 shares of the healthcare product maker’s stock valued at $838,176,000 after buying an additional 1,088,770 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on ABT. Raymond James decreased their price target on shares of Abbott Laboratories from $117.00 to $109.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. UBS Group lowered their target price on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Wells Fargo & Company cut their price objective on Abbott Laboratories from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, October 10th. Evercore ISI cut their price target on shares of Abbott Laboratories to $110.00 in a research note on Thursday, October 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.00.
Abbott Laboratories Stock Performance
Abbott Laboratories (NYSE:ABT – Get Rating) last announced its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.21. The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.65 billion. Abbott Laboratories had a return on equity of 27.79% and a net margin of 17.52%. During the same period in the previous year, the firm earned $1.40 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 5.21 EPS for the current fiscal year.
Abbott Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, October 13th. Abbott Laboratories’s payout ratio is presently 42.44%.
Insider Buying and Selling
In other Abbott Laboratories news, EVP Joseph J. Manning sold 23,008 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the sale, the executive vice president now directly owns 53,245 shares in the company, valued at $5,697,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the transaction, the executive vice president now owns 53,245 shares of the company’s stock, valued at approximately $5,697,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $97.46, for a total value of $4,873,000.00. Following the completion of the sale, the director now directly owns 6,873,500 shares in the company, valued at $669,891,310. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Abbott Laboratories Profile
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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