Nisa Investment Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 1.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 825,420 shares of the healthcare product maker’s stock after acquiring an additional 15,036 shares during the period. Abbott Laboratories comprises 0.6% of Nisa Investment Advisors LLC’s portfolio, making the stock its 29th biggest position. Nisa Investment Advisors LLC’s holdings in Abbott Laboratories were worth $65,984,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ABT. Vanguard Group Inc lifted its position in shares of Abbott Laboratories by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after acquiring an additional 2,208,781 shares during the period. BKD Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 9.8% during the 4th quarter. BKD Wealth Advisors LLC now owns 7,572 shares of the healthcare product maker’s stock worth $548,000 after buying an additional 675 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of Abbott Laboratories by 0.9% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 23,076 shares of the healthcare product maker’s stock worth $1,669,000 after buying an additional 200 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Abbott Laboratories by 162.7% during the 4th quarter. Meeder Asset Management Inc. now owns 39,143 shares of the healthcare product maker’s stock worth $2,831,000 after buying an additional 24,244 shares during the last quarter. Finally, Patten & Patten Inc. TN lifted its position in shares of Abbott Laboratories by 145.4% during the 4th quarter. Patten & Patten Inc. TN now owns 216,119 shares of the healthcare product maker’s stock worth $15,632,000 after buying an additional 128,055 shares during the last quarter. Institutional investors own 73.42% of the company’s stock.
In other news, insider Brian J. Blaser sold 450,062 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was 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 of the company’s stock, valued at approximately $22,334,662.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total value of $596,058.00. Following the completion of the sale, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The disclosure for this sale can be found here. Insiders sold 998,362 shares of company stock valued at $76,262,101 over the last three months. Company insiders own 0.70% of the company’s stock.
Shares of ABT stock traded down $0.07 during trading hours on Friday, reaching $82.22. The company had a trading volume of 4,771,105 shares, compared to its average volume of 5,785,026. Abbott Laboratories has a 12 month low of $60.31 and a 12 month high of $82.86. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $144.57 billion, a PE ratio of 28.55, a P/E/G ratio of 2.31 and a beta of 1.08.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The company had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.37 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
Several research firms recently commented on ABT. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Royal Bank of Canada raised their price objective on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research note on Thursday. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $80.89.
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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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