Abbott Laboratories (NYSE:ABT) Shares Acquired by Keybank National Association OH

Keybank National Association OH lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,555,286 shares of the healthcare product maker’s stock after buying an additional 8,475 shares during the quarter. Keybank National Association OH owned approximately 0.09% of Abbott Laboratories worth $130,800,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC grew 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 purchasing an additional 334 shares during the last quarter. Fairview Capital Investment Management LLC grew its position in Abbott Laboratories by 2.5% during the 4th quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock worth $446,000 after purchasing an additional 151 shares during the last quarter. Geode Capital Management LLC grew its position in 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 during the last quarter. LMR Partners LLP purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $1,746,000. Finally, Drexel Morgan & Co. grew its position in Abbott Laboratories by 3.8% during the 4th quarter. Drexel Morgan & Co. now owns 27,243 shares of the healthcare product maker’s stock worth $1,971,000 after purchasing an additional 1,001 shares during the last quarter. 73.42% of the stock is owned by institutional investors and hedge funds.

NYSE:ABT traded up $1.16 during trading hours on Tuesday, reaching $85.82. 123,332 shares of the company were exchanged, compared to its average volume of 5,405,508. The stock has a 50-day moving average of $85.73. The firm has a market cap of $153.09 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. Abbott Laboratories has a twelve month low of $63.07 and a twelve month 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Abbott Laboratories’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors 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 1.49%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Raymond James boosted 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. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Cowen upped their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $85.82.

In related news, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the sale, the director now owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randel William Woodgrift sold 65,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the sale, the insider now directly owns 117,562 shares of the company’s stock, valued at approximately $10,346,631.62. The disclosure for this sale can be found here. Insiders sold 862,094 shares of company stock valued at $69,122,768 in the last three months. 0.70% of the stock is currently owned by insiders.

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 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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