LaSalle Street Capital Management LLC held its stake in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,100 shares of the healthcare product maker’s stock at the end of the second quarter. LaSalle Street Capital Management LLC’s holdings in Abbott Laboratories were worth $588,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Abbott Laboratories by 7.7% in the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after buying an additional 830,610 shares in the last quarter. Boston Partners lifted its holdings in shares of Abbott Laboratories by 28.1% in the second quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after buying an additional 2,304,467 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Abbott Laboratories by 0.8% in the second quarter. Independent Franchise Partners LLP now owns 9,828,141 shares of the healthcare product maker’s stock worth $477,745,000 after buying an additional 76,935 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Abbott Laboratories by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 9,126,028 shares of the healthcare product maker’s stock worth $443,646,000 after buying an additional 302,629 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $56.81.
In related news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the sale, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold 311,127 shares of company stock worth $16,958,579 in the last 90 days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at $54.66 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a fifty-two week low of $37.42 and a fifty-two week high of $56.69. The stock has a market cap of $95,367.53, a P/E ratio of 22.73, a PEG ratio of 2.05 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue was up 28.8% on a year-over-year basis. research analysts forecast that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is 83.47%.
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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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