Northwestern Mutual Wealth Management Co. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,592 shares of the healthcare product maker’s stock after purchasing an additional 2,843 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Abbott Laboratories were worth $8,087,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of Abbott Laboratories by 417.9% during the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock worth $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. Spinnaker Trust grew its position in Abbott Laboratories by 6.4% in the 1st quarter. Spinnaker Trust now owns 32,698 shares of the healthcare product maker’s stock valued at $1,958,000 after acquiring an additional 1,972 shares in the last quarter. Deltec Asset Management LLC grew its position in Abbott Laboratories by 17.7% in the 2nd quarter. Deltec Asset Management LLC now owns 159,800 shares of the healthcare product maker’s stock valued at $9,746,000 after acquiring an additional 24,000 shares in the last quarter. Huber Financial Advisors LLC grew its position in Abbott Laboratories by 56.4% in the 2nd quarter. Huber Financial Advisors LLC now owns 10,893 shares of the healthcare product maker’s stock valued at $664,000 after acquiring an additional 3,930 shares in the last quarter. Finally, Aspiriant LLC grew its position in Abbott Laboratories by 788.5% in the 1st quarter. Aspiriant LLC now owns 34,606 shares of the healthcare product maker’s stock valued at $2,074,000 after acquiring an additional 30,711 shares in the last quarter. 72.48% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Brian J. Blaser sold 15,100 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $965,796.00. Following the completion of the transaction, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jaime Contreras sold 64,268 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the transaction, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,389 shares of company stock valued at $5,995,012. Corporate insiders own 0.74% of the company’s stock.

Several research firms have weighed in on ABT. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 19th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Sanford C. Bernstein began coverage on Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 target price for the company. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $69.88.

Shares of Abbott Laboratories stock opened at $65.83 on Friday. Abbott Laboratories has a one year low of $51.13 and a one year high of $67.36. The stock has a market cap of $115.79 billion, a PE ratio of 26.33, a P/E/G ratio of 1.85 and a beta of 1.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. sell-side analysts predict that Abbott Laboratories will post 2.88 earnings per share for the current year.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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