Abbott Laboratories (NYSE:ABT) Shares Purchased by Swarthmore Group Inc.

Swarthmore Group Inc. boosted its position in Abbott Laboratories (NYSE:ABT) by 959.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,975 shares of the healthcare product maker’s stock after purchasing an additional 120,425 shares during the period. Abbott Laboratories comprises approximately 2.8% of Swarthmore Group Inc.’s holdings, making the stock its 6th largest position. Swarthmore Group Inc.’s holdings in Abbott Laboratories were worth $11,183,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Castle Rock Wealth Management LLC lifted its position in Abbott Laboratories by 2.4% during the 4th quarter. Castle Rock Wealth Management LLC now owns 14,275 shares of the healthcare product maker’s stock worth $1,044,000 after acquiring an additional 334 shares during the last quarter. Fairview Capital Investment Management LLC grew its stake in shares of Abbott Laboratories by 2.5% in the 4th quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock worth $446,000 after acquiring an additional 151 shares in the last quarter. Claraphi Advisory Network LLC grew its stake in shares of Abbott Laboratories by 6.4% in the 4th quarter. Claraphi Advisory Network LLC now owns 5,221 shares of the healthcare product maker’s stock worth $377,000 after acquiring an additional 314 shares in the last quarter. Haverford Trust Co. grew its stake in shares of Abbott Laboratories by 4.7% in the 4th quarter. Haverford Trust Co. now owns 89,841 shares of the healthcare product maker’s stock worth $6,498,000 after acquiring an additional 4,009 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Abbott Laboratories by 766.3% in the 4th quarter. Bessemer Group Inc. now owns 433,889 shares of the healthcare product maker’s stock worth $31,384,000 after acquiring an additional 383,801 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

In other news, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sally E. Blount sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the sale, the director now directly owns 26,266 shares in the company, valued at $2,302,214.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 818,331 shares of company stock worth $65,369,215. Insiders own 0.70% of the company’s stock.

Several analysts have recently issued reports on ABT shares. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James increased their price target on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Bank of America restated a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 13th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Finally, Zacks Investment Research lowered shares of 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.82.

NYSE ABT traded up $0.82 during trading on Tuesday, hitting $83.98. 189,382 shares of the company’s stock traded hands, compared to its average volume of 5,037,156. The stock has a market capitalization of $148.39 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. Abbott Laboratories has a 12-month low of $63.07 and a 12-month high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $85.51.

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

The company also recently declared 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.

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 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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