AE Wealth Management LLC Boosts Stake in Abbott Laboratories (ABT)

AE Wealth Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 147.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,423 shares of the healthcare product maker’s stock after purchasing an additional 9,784 shares during the quarter. AE Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,002,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rainier Group Investment Advisory LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $114,000. FNY Investment Advisers LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $118,000. Fort L.P. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $119,000. Private Ocean LLC boosted its position in shares of Abbott Laboratories by 9,868.2% during the 1st quarter. Private Ocean LLC now owns 2,193 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 2,171 shares in the last quarter. Finally, Silvant Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $160,000. Institutional investors and hedge funds own 72.48% of the company’s stock.

In other Abbott Laboratories news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total value of $610,499.67. Following the transaction, the insider now directly owns 35,576 shares in the company, valued at $2,387,505.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now owns 125,471 shares in the company, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,389 shares of company stock worth $5,995,012. Company insiders own 0.74% of the company’s stock.

Several analysts have recently weighed in on ABT shares. Royal Bank of Canada reiterated a “buy” rating and set a $70.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 19th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, July 19th. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Sanford C. Bernstein started coverage on shares of Abbott Laboratories in a research report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $69.88.

NYSE:ABT opened at $68.50 on Friday. The stock has a market capitalization of $116.84 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.86 and a beta of 1.48. Abbott Laboratories has a 12 month low of $51.37 and a 12 month high of $68.54. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. research analysts predict that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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