Clean Yield Group Maintains Stake in Abbott Laboratories (ABT)
Clean Yield Group maintained its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The fund owned 7,848 shares of the healthcare product maker’s stock at the end of the second quarter. Clean Yield Group’s holdings in Abbott Laboratories were worth $309,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Abbott Laboratories by 13.5% in the second quarter. Nordea Investment Management AB now owns 3,529,762 shares of the healthcare product maker’s stock worth $138,755,000 after buying an additional 420,435 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Abbott Laboratories by 412.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 701,259 shares of the healthcare product maker’s stock worth $27,568,000 after buying an additional 564,323 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth approximately $11,444,000. National Pension Service boosted its stake in shares of Abbott Laboratories by 4.2% in the first quarter. National Pension Service now owns 766,747 shares of the healthcare product maker’s stock worth $32,073,000 after buying an additional 30,857 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of Abbott Laboratories by 2.5% in the second quarter. MAI Capital Management now owns 328,683 shares of the healthcare product maker’s stock worth $12,921,000 after buying an additional 8,170 shares during the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) remained flat at $40.98 during mid-day trading on Thursday. The company had a trading volume of 6,444,660 shares. Abbott Laboratories has a 12 month low of $36.00 and a 12 month high of $46.38. The firm has a 50 day moving average of $42.08 and a 200 day moving average of $41.39. The firm has a market capitalization of $60.24 billion, a price-to-earnings ratio of 27.05 and a beta of 0.87.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the company earned $0.52 earnings per share. Abbott Laboratories’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post ($0.01) EPS 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 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s payout ratio is 68.87%.
A number of equities research analysts have recently commented on ABT shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, September 20th. Jefferies Group reduced their target price on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $47.02.
In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’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 completion of the transaction, the senior vice president now directly owns 59,791 shares in the company, valued at approximately $2,493,882.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Miles D. White bought 242,547 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were bought at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the completion of the purchase, the chairman now owns 2,010,517 shares in the company, valued at $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is currently 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.
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