Swiss National Bank Buys 209,600 Shares of Abbott Laboratories (ABT)
Swiss National Bank increased its holdings in Abbott Laboratories (NYSE:ABT) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,738,388 shares of the healthcare product maker’s stock after buying an additional 209,600 shares during the quarter. Swiss National Bank owned about 0.39% of Abbott Laboratories worth $327,553,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Winfield Associates Inc. grew its holdings in Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after buying an additional 89 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after buying an additional 2,094 shares in the last quarter. Motco grew its holdings in Abbott Laboratories by 213.7% in the 2nd quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 1,962 shares in the last quarter. Burt Wealth Advisors grew its holdings in Abbott Laboratories by 14.4% in the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock worth $154,000 after buying an additional 400 shares in the last quarter. Finally, Lee Financial Co grew its holdings in Abbott Laboratories by 1.7% in the 2nd quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock worth $165,000 after buying an additional 57 shares in the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (ABT) opened at $55.29 on Tuesday. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $56.69. The company has a market capitalization of $96,240.00, a price-to-earnings ratio of 23.05, a PEG ratio of 2.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 7.07% and a net margin of 8.21%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 87.60%.
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ABT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen and Company set a $68.00 price objective on Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $56.81.
In other news, insider Brian J. Blaser sold 23,866 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.55, for a total transaction of $1,325,756.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the sale, the insider now owns 144,955 shares of the company’s stock, valued at approximately $7,972,525. The disclosure for this sale can be found here. Insiders have sold a total of 306,786 shares of company stock valued at $16,715,522 in the last quarter. Insiders own 0.76% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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