Abbott Laboratories (NYSE:ABT) Stake Lifted by Logan Capital Management Inc.

Logan Capital Management Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,759 shares of the healthcare product maker’s stock after buying an additional 6,401 shares during the quarter. Logan Capital Management Inc.’s holdings in Abbott Laboratories were worth $6,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Manchester Financial Inc. bought a new position in Abbott Laboratories during the 2nd quarter worth $30,000. Front Row Advisors LLC boosted its position in Abbott Laboratories by 790.9% during the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after acquiring an additional 348 shares during the period. Weaver Consulting Group acquired a new position in Abbott Laboratories during the 1st quarter worth $33,000. Beacon Capital Management Inc. acquired a new position in Abbott Laboratories during the 1st quarter worth $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Abbott Laboratories during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 73.42% of the company’s stock.

In other news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $82.00, for a total transaction of $596,058.00. Following the completion of the sale, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at $8,157,278. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 818,331 shares of company stock valued at $65,369,215. Insiders own 0.70% of the company’s stock.

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. William Blair reiterated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Friday, June 7th. Bank of America reiterated a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 13th. Finally, Raymond James boosted their price target on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $85.82.

Shares of Abbott Laboratories stock opened at $85.82 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.68. The firm has a market capitalization of $152.14 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a fifty day moving average price of $85.32. Abbott Laboratories has a fifty-two week low of $63.07 and a fifty-two week high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.49%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

Abbott Laboratories Company 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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