Tealwood Asset Management Inc. Grows Holdings in Abbott Laboratories (NYSE:ABT)

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Tealwood Asset Management Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 2.1% during the second quarter, Holdings Channel.com reports. The firm owned 30,734 shares of the healthcare product maker’s stock after buying an additional 646 shares during the period. Tealwood Asset Management Inc.’s holdings in Abbott Laboratories were worth $2,585,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABT. Manchester Financial Inc. purchased a new position in Abbott Laboratories in the 2nd quarter valued at about $30,000. Front Row Advisors LLC lifted its holdings in 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 in the last quarter. Weaver Consulting Group purchased a new position in Abbott Laboratories in the 1st quarter valued at about $33,000. Beacon Capital Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter valued at about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Abbott Laboratories in the 2nd quarter valued at about $42,000. Institutional investors own 73.33% of the company’s stock.

A number of research analysts have recently commented on the stock. Cowen upped their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Raymond James upped their price objective on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.38.

In related news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the completion of the sale, the senior vice president now owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,040 shares of company stock valued at $37,121,747. Corporate insiders own 0.70% of the company’s stock.

ABT traded down $0.52 on Thursday, reaching $84.38. 74,026 shares of the company’s stock were exchanged, compared to its average volume of 4,844,495. The company’s 50 day moving average is $85.92 and its 200-day moving average is $80.01. The company has a market cap of $151.22 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.41 and a beta of 1.12. Abbott Laboratories has a twelve month low of $64.48 and a twelve month high of $88.76. 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 (NYSE:ABT) last posted its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Sell-side analysts forecast that Abbott Laboratories will post 3.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

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

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