Today, Harding Loevner LP invests in 940 by buying Abbott Laboratories (ABT) shares

Today, Harding Loevner LP invests in 940 by buying Abbott Laboratories (ABT) shares

Harding Loevner LP increased its position in Abbott Laboratories (NYSE:ABT) by 0.0% during the third quarter, Holdings Channel reports. The firm owned 2,612,665 shares of the healthcare product maker’s stock after buying an additional 940 shares during the period. Harding Loevner LP’s holdings in Abbott Laboratories were worth $110,489,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ABT. Parasol Investment Management LLC increased its stake in shares of Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock worth $101,000 after buying an additional 600 shares during the last quarter. Krilogy Financial LLC increased its stake in shares of Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC increased its stake in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock worth $113,000 after buying an additional 275 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $120,000. Finally, Bellwether Investment Group LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $145,000. 72.33% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.46% during trading on Friday, reaching $39.16. 2,733,423 shares of the company traded hands. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.22. The firm has a 50 day moving average of $40.11 and a 200 day moving average of $40.95. The stock has a market capitalization of $57.66 billion, a PE ratio of 42.75 and a beta of 0.94.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post $2.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were given a $0.26 dividend. The ex-dividend date was Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.66%. Abbott Laboratories’s dividend payout ratio (DPR) is 114.29%.

A number of equities research analysts have recently issued reports on ABT shares. Jefferies Group boosted their price objective on shares of Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Deutsche Bank AG reissued a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. BTIG Research reissued a “buy” rating and set a $45.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Bank of America Corp. reissued a “buy” rating and set a $50.00 price objective on shares of Abbott Laboratories in a research report on Friday, August 12th. Finally, TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $47.02.

In other news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Miles D. White purchased 121,456 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $40.45 per share, for a total transaction of $4,912,895.20. Following the completion of the purchase, the chairman now owns 2,802,558 shares of the company’s stock, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.

About Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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