Strs Ohio Has $65.64 Million Position in Abbott Laboratories (ABT)

Strs Ohio decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,350,436 shares of the healthcare product maker’s stock after selling 96,980 shares during the period. Strs Ohio owned about 0.08% of Abbott Laboratories worth $65,644,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sanders Morris Harris LLC boosted its position in Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after purchasing an additional 16 shares during the last quarter. Janney Capital Management LLC boosted its position in Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 26 shares during the last quarter. Alpha Windward LLC boosted its position in Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after purchasing an additional 30 shares during the last quarter. Johanson Financial Advisors Inc. boosted its position in Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares during the last quarter. Finally, Country Club Trust Company n.a. boosted its position in Abbott Laboratories by 0.5% in the second quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 38 shares during the last quarter. 71.50% of the stock is currently owned by institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) opened at 52.51 on Friday. The company has a market capitalization of $91.23 billion, a price-to-earnings ratio of 73.54 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The company’s 50 day moving average price is $50.14 and its 200-day moving average price is $47.04.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. Abbott Laboratories’s dividend payout ratio is 149.30%.

In related news, insider Sharon J. Bracken sold 2,000 shares of Abbott Laboratories stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock valued at $10,811,179 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

ABT has been the topic of several research analyst reports. BidaskClub raised Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 29th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, June 14th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $54.00 price objective (up previously from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.71.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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