Jupiter Asset Management Ltd. Holds Position in Abbott Laboratories (ABT)

Jupiter Asset Management Ltd. maintained its stake in Abbott Laboratories (NYSE:ABT) during the first quarter, Holdings Channel reports. The institutional investor owned 129,004 shares of the healthcare product maker’s stock at the end of the first quarter. Jupiter Asset Management Ltd.’s holdings in Abbott Laboratories were worth $5,729,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABT. Whittier Trust Co. boosted its stake in Abbott Laboratories by 1.7% in the first quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after buying an additional 6,751 shares during the period. Marshwinds Advisory Co. boosted its stake in Abbott Laboratories by 118.2% in the first quarter. Marshwinds Advisory Co. now owns 66,576 shares of the healthcare product maker’s stock worth $2,957,000 after buying an additional 36,069 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Abbott Laboratories by 7.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock worth $4,610,000 after buying an additional 7,309 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Abbott Laboratories by 3.1% in the first quarter. Miller Howard Investments Inc. NY now owns 1,529,641 shares of the healthcare product maker’s stock worth $67,931,000 after buying an additional 46,118 shares during the period. Finally, Reik & CO. LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $215,000. 70.98% of the stock is currently owned by institutional investors.

Abbott Laboratories (ABT) opened at 49.30 on Tuesday. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The stock’s 50 day moving average is $48.97 and its 200-day moving average is $45.28. The stock has a market capitalization of $85.55 billion, a price-to-earnings ratio of 69.05 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.07% and a return on equity of 3.44%. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period last year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.15%. Abbott Laboratories’s payout ratio is 149.30%.

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A number of equities research analysts recently commented on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a report on Monday, April 10th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 price target (up previously from $47.50) on shares of Abbott Laboratories in a report on Friday, June 30th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Tuesday, July 11th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $51.93.

In other news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,188,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the sale, the insider now owns 47,090 shares in the company, valued at $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock worth $10,149,733 over the last 90 days. Insiders own 0.76% of the company’s stock.

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.

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

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