Abbott Laboratories (NYSE:ABT) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its position in Abbott Laboratories (NYSE:ABT) by 206.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,678,561 shares of the healthcare product maker’s stock after purchasing an additional 1,130,761 shares during the period. Two Sigma Advisers LP’s holdings in Abbott Laboratories were worth $153,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Abbott Laboratories by 5.2% during the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock valued at $12,319,776,000 after acquiring an additional 6,621,486 shares during the last quarter. State Street Corp increased its stake in shares of Abbott Laboratories by 0.7% during the 1st quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after acquiring an additional 528,871 shares during the last quarter. Capital International Investors increased its stake in shares of Abbott Laboratories by 17.9% during the 1st quarter. Capital International Investors now owns 55,781,543 shares of the healthcare product maker’s stock valued at $4,401,723,000 after acquiring an additional 8,454,341 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 11.9% during the 1st quarter. Wellington Management Group LLP now owns 43,184,886 shares of the healthcare product maker’s stock valued at $3,407,719,000 after acquiring an additional 4,584,550 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Abbott Laboratories by 11.3% during the 1st quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after acquiring an additional 2,578,161 shares during the last quarter. 73.09% of the stock is owned by institutional investors.

In related news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the transaction, the executive vice president now owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Randel William Woodgrift sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $105.28, for a total value of $263,200.00. Following the transaction, the senior vice president now directly owns 46,267 shares of the company’s stock, valued at approximately $4,870,989.76. The disclosure for this sale can be found here. In the last three months, insiders sold 81,121 shares of company stock valued at $8,636,628. Company insiders own 1.70% of the company’s stock.

A number of brokerages have recently issued reports on ABT. Bank of America boosted their target price on Abbott Laboratories from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $107.00 to $115.00 in a report on Thursday, August 27th. Stifel Nicolaus upped their price target on Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Argus upped their price target on Abbott Laboratories from $110.00 to $125.00 in a report on Thursday, July 23rd. Finally, Wolfe Research started coverage on Abbott Laboratories in a report on Friday, September 11th. They issued an “outperform” rating and a $124.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $111.19.

NYSE ABT traded down $0.88 during trading hours on Wednesday, hitting $105.70. The company had a trading volume of 3,929,317 shares, compared to its average volume of 7,452,695. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $103.21 and a 200-day simple moving average of $91.92. The firm has a market cap of $187.15 billion, a P/E ratio of 61.10, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 3.27 EPS for the current fiscal year.

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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