Macquarie Group Ltd. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,247 shares of the healthcare product maker’s stock after selling 13,659 shares during the period. Macquarie Group Ltd.’s holdings in Abbott Laboratories were worth $19,075,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of ABT. Williams Jones & Associates LLC increased its position in shares of Abbott Laboratories by 101.5% in the second quarter. Williams Jones & Associates LLC now owns 110,311 shares of the healthcare product maker’s stock valued at $4,336,000 after buying an additional 55,572 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $2,332,000. Kentucky Retirement Systems bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $4,911,000. Northwestern Mutual Investment Management Company LLC increased its position in shares of Abbott Laboratories by 20.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 465,309 shares of the healthcare product maker’s stock valued at $18,291,000 after buying an additional 79,895 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $7,779,000. 72.33% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) traded up 0.46% on Friday, hitting $39.16. 2,733,423 shares of the company were exchanged. The company has a 50 day moving average price of $40.11 and a 200-day moving average price of $40.95. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.22. The stock has a market capitalization of $57.66 billion, a P/E ratio of 42.75 and a beta of 0.94.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, topping the 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 company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s payout ratio is 114.29%.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, October 21st. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a research report on Monday, September 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a research report on Monday, September 19th. Jefferies Group decreased their price target on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, September 13th. Finally, TheStreet upgraded 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 given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.02.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sally E. Blount acquired 5,100 shares of Abbott Laboratories stock in a transaction on Tuesday, November 1st. The shares were bought at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the completion of the transaction, the director now owns 20,143 shares in the company, valued at approximately $790,411.32. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
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.