Abbott Laboratories (NYSE:ABT) Stake Raised by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 166.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,939 shares of the healthcare product maker’s stock after acquiring an additional 11,206 shares during the quarter. Acadian Asset Management LLC’s holdings in Abbott Laboratories were worth $1,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Abbott Laboratories by 1.6% in the first quarter. BlackRock Inc. now owns 111,996,583 shares of the healthcare product maker’s stock valued at $6,710,836,000 after purchasing an additional 1,795,199 shares during the period. Franklin Resources Inc. raised its position in shares of Abbott Laboratories by 5.2% in the first quarter. Franklin Resources Inc. now owns 9,042,686 shares of the healthcare product maker’s stock valued at $541,838,000 after purchasing an additional 446,071 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Abbott Laboratories by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,327,489 shares of the healthcare product maker’s stock valued at $439,064,000 after purchasing an additional 335,665 shares during the period. Principal Financial Group Inc. raised its position in shares of Abbott Laboratories by 4.3% in the first quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock valued at $307,990,000 after purchasing an additional 211,233 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Abbott Laboratories by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,102,874 shares of the healthcare product maker’s stock valued at $305,764,000 after purchasing an additional 44,314 shares during the period. 72.48% of the stock is currently owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 615 shares of Abbott Laboratories stock in a transaction on Monday, July 30th. The shares were sold at an average price of $65.16, for a total transaction of $40,073.40. Following the sale, the insider now owns 40,761 shares in the company, valued at $2,655,986.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaime Contreras sold 64,268 shares of Abbott Laboratories stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the sale, the senior vice president now owns 125,471 shares in the company, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. Insiders have sold 90,389 shares of company stock worth $5,995,012 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

Shares of Abbott Laboratories stock traded down $0.18 during midday trading on Friday, hitting $66.84. The company had a trading volume of 5,893,800 shares, compared to its average volume of 5,954,779. The company has a market cap of $117.17 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.87 and a beta of 1.53. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Abbott Laboratories has a 1-year low of $49.49 and a 1-year high of $67.36.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.68%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

A number of research firms have recently commented on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Sanford C. Bernstein began coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research report on Thursday, July 19th. Finally, Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $69.88.

Abbott Laboratories Profile

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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