Abbott Laboratories (NYSE:ABT) Shares Bought by Saturna Capital CORP

Saturna Capital CORP boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 429,325 shares of the healthcare product maker’s stock after buying an additional 247 shares during the period. Saturna Capital CORP’s holdings in Abbott Laboratories were worth $36,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Manchester Financial Inc. acquired a new position in Abbott Laboratories during the second quarter worth $30,000. Front Row Advisors LLC lifted its stake in shares of Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after purchasing an additional 348 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Beacon Capital Management Inc. acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $42,000. 73.42% of the stock is currently owned by institutional investors.

Shares of ABT traded up $1.60 during mid-day trading on Tuesday, hitting $86.26. The company’s stock had a trading volume of 2,028,108 shares, compared to its average volume of 5,405,508. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The business has a 50-day moving average of $85.73. The stock has a market capitalization of $153.09 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.44 and a beta of 1.12. Abbott Laboratories has a 1-year low of $63.07 and a 1-year high of $88.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period last year, the firm earned $0.73 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side 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 1.48%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.

Several equities analysts have recently commented on ABT shares. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Jefferies Financial Group upped their price target on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price target 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. Raymond James upped their price target on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley boosted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $85.82.

In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the completion of the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the transaction, the director now directly owns 26,266 shares of the company’s stock, 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.

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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