Westpac Banking Corp boosted its holdings in Abbott Laboratories (NYSE:ABT) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,056 shares of the healthcare product maker’s stock after buying an additional 9,693 shares during the quarter. Westpac Banking Corp’s holdings in Abbott Laboratories were worth $29,608,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Manchester Financial Inc. acquired a new stake in shares of Abbott Laboratories in the second quarter worth approximately $30,000. Front Row Advisors LLC raised its position in Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after purchasing an additional 348 shares in the last quarter. Weaver Consulting Group acquired a new position in Abbott Laboratories in the first quarter worth about $33,000. Beacon Capital Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Abbott Laboratories during the second quarter worth approximately $42,000. 73.42% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Brian B. Yoor sold 43,763 shares of Abbott Laboratories stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the completion of the sale, the chief financial officer now owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sally E. Blount sold 2,500 shares of Abbott Laboratories stock in a transaction on 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 transaction, the director now owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Several research firms have recently weighed in on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Friday, June 7th. Cowen lifted 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. Raymond James lifted their price target 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. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.82.

Shares of NYSE ABT traded up $2.17 during trading hours on Tuesday, reaching $86.83. The stock had a trading volume of 2,920,395 shares, compared to its average volume of 5,405,508. The stock has a market capitalization of $153.09 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth 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 fifty-two week low of $63.07 and a fifty-two week high of $88.76. The business’s 50-day simple moving average is $85.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.73 EPS. Equities analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.

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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