Steward Partners Investment Advisory LLC Acquires 2,559 Shares of Abbott Laboratories (NYSE:ABT)

Steward Partners Investment Advisory LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 5.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 48,541 shares of the healthcare product maker’s stock after acquiring an additional 2,559 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Abbott Laboratories were worth $4,082,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ABT. Manchester Financial Inc. bought a new position in shares of Abbott Laboratories during the 2nd quarter worth about $30,000. Front Row Advisors LLC lifted its holdings in shares of 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 bought a new position in shares of Abbott Laboratories during the 1st quarter worth about $33,000. Beacon Capital Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter worth about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Abbott Laboratories during the 2nd quarter worth about $42,000. 73.46% of the stock is owned by institutional investors.

ABT traded down $1.21 during midday trading on Wednesday, hitting $83.65. The company had a trading volume of 1,456,105 shares, compared to its average volume of 5,037,156. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The company has a market capitalization of $151.68 billion, a P/E ratio of 29.05, a PEG ratio of 2.41 and a beta of 1.12. Abbott Laboratories has a twelve month low of $63.07 and a twelve month high of $88.76. The firm has a 50-day moving average price of $85.55.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is presently 44.44%.

A number of equities analysts have recently commented on ABT shares. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Friday, June 7th. William Blair reiterated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Raymond James increased their target price on shares of Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada increased their target price on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $85.82.

In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of the firm’s 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 completion of the sale, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were 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 owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. Insiders sold a total of 818,331 shares of company stock valued at $65,369,215 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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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