CQS Cayman LP Buys Shares of 66,891 Abbott Laboratories (NYSE:ABT)

CQS Cayman LP bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, HoldingsChannel reports. The institutional investor bought 66,891 shares of the healthcare product maker’s stock, valued at approximately $5,626,000.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its holdings in Abbott Laboratories by 1.8% during the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after buying an additional 2,199,601 shares during the last quarter. FMR LLC increased its holdings in Abbott Laboratories by 0.3% during the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after buying an additional 65,260 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Abbott Laboratories by 0.9% during the second quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after buying an additional 149,307 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Abbott Laboratories by 2.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,653,964 shares of the healthcare product maker’s stock valued at $643,699,000 after buying an additional 199,283 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Abbott Laboratories by 1.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,817,281 shares of the healthcare product maker’s stock valued at $573,333,000 after buying an additional 73,074 shares during the last quarter. 73.84% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ABT traded down $0.94 during midday trading on Friday, reaching $84.27. 3,417,490 shares of the company were exchanged, compared to its average volume of 4,133,674. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $85.25 and its two-hundred day moving average is $81.11. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76. The stock has a market cap of $149.38 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.38 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping 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 business earned $0.73 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. Abbott Laboratories’s dividend payout ratio is 44.44%.

In related news, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $84.00, for a total transaction of $5,964,000.00. Following the completion of the transaction, the executive vice president now owns 167,148 shares in the company, valued at $14,040,432. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hubert L. Allen sold 165,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $85.00, for a total transaction of $14,025,000.00. Following the transaction, the insider now owns 311,010 shares of the company’s stock, valued at approximately $26,435,850. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 464,397 shares of company stock valued at $39,677,310. 0.70% of the stock is owned by company insiders.

A number of analysts have commented on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a report on Wednesday, August 21st. BMO Capital Markets upped their price target 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. Wells Fargo & Co upped their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Cowen upped their price target 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. Finally, Jefferies Financial Group upped their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.38.

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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