Northside Capital Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 9,503 shares of the healthcare product maker’s stock after buying an additional 346 shares during the period. Northside Capital Management LLC’s holdings in Abbott Laboratories were worth $374,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in ABT. MCF Advisors LLC increased its position in Abbott Laboratories by 0.3% in the first quarter. MCF Advisors LLC now owns 5,456 shares of the healthcare product maker’s stock valued at $228,000 after buying an additional 18 shares during the period. Hyman Charles D acquired a new position in Abbott Laboratories during the first quarter valued at approximately $990,000. IFP Advisors Inc increased its position in Abbott Laboratories by 2.2% in the first quarter. IFP Advisors Inc now owns 67,969 shares of the healthcare product maker’s stock valued at $2,843,000 after buying an additional 1,465 shares during the period. Compton Capital Management Inc. RI increased its position in Abbott Laboratories by 0.7% in the first quarter. Compton Capital Management Inc. RI now owns 30,546 shares of the healthcare product maker’s stock valued at $1,278,000 after buying an additional 200 shares during the period. Finally, Virginia Retirement System acquired a new position in Abbott Laboratories during the first quarter valued at approximately $1,861,000. 73.03% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) traded up 0.20% during midday trading on Wednesday, hitting $40.98. 6,402,915 shares of the stock traded hands. The company has a 50-day moving average of $42.16 and a 200-day moving average of $41.39. The stock has a market cap of $60.24 billion, a PE ratio of 27.05 and a beta of 0.87. Abbott Laboratories has a 12 month low of $36.00 and a 12 month high of $46.38.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post ($0.01) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s payout ratio is 68.87%.
ABT has been the topic of several analyst reports. Jefferies Group lifted their target price on shares of Abbott Laboratories from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 14th. Barclays PLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Saturday, June 18th. Edward Jones raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, July 5th. Finally, Argus reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $47.02.
In related news, Chairman Miles D. White purchased 242,547 shares of Abbott Laboratories stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the transaction, the chairman now owns 2,010,517 shares in the company, valued at $86,814,124.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of Abbott Laboratories stock in a transaction that occurred on 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 owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The disclosure for this sale can be found here. 0.26% of the stock is 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.