Flossbach Von Storch AG Has $570,576,000 Stake in Abbott Laboratories (ABT)
Flossbach Von Storch AG raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 51.5% during the second quarter, Holdings Channel reports. The institutional investor owned 14,514,773 shares of the healthcare product maker’s stock after buying an additional 4,936,655 shares during the period. Abbott Laboratories accounts for 9.8% of Flossbach Von Storch AG’s portfolio, making the stock its largest position. Flossbach Von Storch AG’s holdings in Abbott Laboratories were worth $570,576,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Parasol Investment Management LLC increased its stake in shares of Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares in the last quarter. SeaBridge Investment Advisors LLC increased its stake in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares in the last quarter. CapWealth Advisors LLC increased its stake in shares of Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares in the last quarter. Delta Asset Management LLC TN increased its stake in shares of Abbott Laboratories by 2.8% in the second quarter. Delta Asset Management LLC TN now owns 3,695 shares of the healthcare product maker’s stock valued at $146,000 after buying an additional 100 shares in the last quarter. Finally, Cribstone Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the second quarter valued at about $150,000. 73.00% of the stock is currently owned by institutional investors.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.49% during mid-day trading on Monday, hitting $40.59. 7,252,727 shares of the company’s stock traded hands. The company has a market cap of $59.67 billion, a PE ratio of 26.79 and a beta of 0.87. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The firm has a 50-day moving average of $41.89 and a 200 day moving average of $41.37.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) 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 firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post $2.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.56%. Abbott Laboratories’s payout ratio is presently 68.87%.
ABT has been the topic of several research analyst reports. Jefferies Group lowered their price target on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, September 13th. TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Bank of America Corp. reaffirmed a “buy” rating and issued a $50.00 price target on shares of Abbott Laboratories in a research report on Friday, August 12th. BTIG Research reissued a “buy” rating and set a $45.00 target price on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.02.
In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 59,791 shares in the company, valued at approximately $2,493,882.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen R. Fussell sold 41,500 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the sale, the insider now owns 196,467 shares in the company, valued at approximately $8,841,015. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
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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