Public Employees Retirement Association of Colorado decreased its holdings in Abbott Laboratories (NYSE:ABT) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,268,803 shares of the healthcare product maker’s stock after selling 9,412 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Abbott Laboratories were worth $147,092,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cable Hill Partners LLC raised its holdings in Abbott Laboratories by 1.5% in the 2nd quarter. Cable Hill Partners LLC now owns 11,435 shares of the healthcare product maker’s stock worth $1,326,000 after purchasing an additional 169 shares during the period. Colonial River Wealth Management LLC acquired a new position in Abbott Laboratories in the 2nd quarter worth about $216,000. Intellectus Partners LLC raised its holdings in Abbott Laboratories by 3.7% in the 2nd quarter. Intellectus Partners LLC now owns 13,147 shares of the healthcare product maker’s stock worth $1,524,000 after purchasing an additional 468 shares during the period. Ossiam raised its holdings in Abbott Laboratories by 50.5% in the 2nd quarter. Ossiam now owns 302,905 shares of the healthcare product maker’s stock worth $36,645,000 after purchasing an additional 101,699 shares during the period. Finally, Natixis raised its holdings in Abbott Laboratories by 80.5% in the 2nd quarter. Natixis now owns 761,617 shares of the healthcare product maker’s stock worth $88,294,000 after purchasing an additional 339,574 shares during the period. 72.05% of the stock is owned by institutional investors.
Shares of NYSE ABT traded up $0.27 during mid-day trading on Thursday, hitting $117.27. The company had a trading volume of 114,331 shares, compared to its average volume of 5,370,625. The company has a market capitalization of $207.90 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. Abbott Laboratories has a 1-year low of $103.13 and a 1-year high of $129.70. The business’s 50-day simple moving average is $123.59 and its 200 day simple moving average is $119.60.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 14th. Abbott Laboratories’s payout ratio is 49.32%.
ABT has been the subject of a number of analyst reports. SVB Leerink upped their price target on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a report on Tuesday, July 20th. Redburn Partners assumed coverage on Abbott Laboratories in a research note on Thursday. They set a “neutral” rating and a $132.28 price objective for the company. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price objective for the company in a research note on Tuesday, August 3rd. Raymond James boosted their price objective on Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Finally, Cowen restated a “buy” rating and issued a $140.00 price target on shares of Abbott Laboratories in a research report on Friday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $130.52.
In related news, EVP Andrea F. Wainer sold 9,500 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $127.50, for a total value of $1,211,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 14,500 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the completion of the sale, the executive vice president now owns 54,282 shares of the company’s stock, valued at approximately $6,785,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,883 shares of company stock worth $27,964,400. Corporate insiders own 1.50% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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