Vaughan David Investments Inc. IL Has $19,082,000 Stake in Abbott Laboratories (ABT)
Vaughan David Investments Inc. IL increased its stake in Abbott Laboratories (NYSE:ABT) by 136.4% during the third quarter, Holdings Channel reports. The fund owned 451,219 shares of the healthcare product maker’s stock after buying an additional 260,374 shares during the period. Vaughan David Investments Inc. IL’s holdings in Abbott Laboratories were worth $19,082,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,826,407 shares of the healthcare product maker’s stock valued at $3,845,557,000 after buying an additional 1,535,735 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock valued at $1,423,400,000 after buying an additional 5,115,232 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Abbott Laboratories by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 29,256,692 shares of the healthcare product maker’s stock valued at $1,150,083,000 after buying an additional 376,446 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Abbott Laboratories by 3.9% in the third quarter. BlackRock Fund Advisors now owns 23,656,893 shares of the healthcare product maker’s stock valued at $1,000,450,000 after buying an additional 878,861 shares during the last quarter. Finally, Jarislowsky Fraser Ltd raised its position in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock valued at $1,060,533,000 after buying an additional 16,664,605 shares during the last quarter. Institutional investors own 72.01% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at 40.72 on Friday. Abbott Laboratories has a 12 month low of $36.00 and a 12 month high of $45.79. The firm has a market cap of $59.95 billion, a price-to-earnings ratio of 44.45 and a beta of 0.92. The company’s 50-day moving average is $38.96 and its 200 day moving average is $41.12.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. Abbott Laboratories’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. On average, equities research analysts predict that Abbott Laboratories will post $2.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $1.06 annualized dividend and a dividend yield of 2.60%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.26. Abbott Laboratories’s payout ratio is currently 116.48%.
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Several research analysts have weighed in on ABT shares. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. TheStreet lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Jefferies Group restated a “buy” rating and set a $46.00 target price on shares of Abbott Laboratories in a research report on Tuesday, December 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Monday, September 19th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $46.36.
In other Abbott Laboratories news, insider Brian J. Blaser acquired 15,580 shares of the stock in a transaction dated Tuesday, December 20th. The shares were bought at an average price of $38.45 per share, with a total value of $599,051.00. Following the purchase, the insider now directly owns 129,782 shares of the company’s stock, valued at approximately $4,990,117.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Miles D. White acquired 121,456 shares of the stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $40.45 per share, for a total transaction of $4,912,895.20. Following the purchase, the chairman now directly owns 2,802,558 shares in the company, valued at $113,363,471.10. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by insiders.
Abbott Laboratories Company Profile
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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