Whitener Capital Management Inc. Has $1.24 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Whitener Capital Management Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,709 shares of the healthcare product maker’s stock after buying an additional 500 shares during the period. Whitener Capital Management Inc.’s holdings in Abbott Laboratories were worth $1,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Norges Bank acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth $1,239,454,000. FMR LLC grew its holdings in shares of Abbott Laboratories by 118.2% during the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after purchasing an additional 12,871,418 shares in the last quarter. Ronna Sue Cohen grew its holdings in shares of Abbott Laboratories by 7,636.6% during the 1st quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after purchasing an additional 6,168,186 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Abbott Laboratories by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after purchasing an additional 1,778,840 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of Abbott Laboratories by 8,669.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock worth $140,128,000 after purchasing an additional 1,385,303 shares in the last quarter. 73.42% of the stock is currently owned by institutional investors.

In other news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the sale, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at $9,004,256.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian B. Yoor sold 43,763 shares of Abbott Laboratories stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $85.77, for a total value of $3,753,552.51. Following the sale, the chief financial officer now directly owns 125,781 shares in the company, valued at $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold 885,102 shares of company stock worth $71,110,429 over the last three months. Insiders own 0.70% of the company’s stock.

Several analysts have recently issued reports on ABT shares. Cowen increased their target price on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Co raised their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Raymond James raised their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.82.

NYSE:ABT traded up $0.84 during trading hours on Friday, hitting $84.78. The company’s stock had a trading volume of 5,496,100 shares, compared to its average volume of 5,113,646. The stock has a fifty day simple moving average of $85.81 and a 200-day simple moving average of $79.81. The company has a market capitalization of $149.84 billion, a P/E ratio of 29.44, a PEG ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. Abbott Laboratories has a twelve month low of $64.03 and a twelve month high of $88.76.

Abbott Laboratories (NYSE:ABT) last released 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 business had revenue of $7.98 billion for 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%. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, July 12th. Abbott Laboratories’s payout ratio 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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