Abbott Laboratories (ABT) Shares Bought by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,622 shares of the healthcare product maker’s stock after purchasing an additional 25 shares during the period. Wellington Shields & Co. LLC’s holdings in Abbott Laboratories were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. State Street Corp boosted its stake in Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the period. Boston Partners boosted its stake in Abbott Laboratories by 5,663.7% in the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after purchasing an additional 8,069,557 shares during the period. Bank of New York Mellon Corp boosted its stake in Abbott Laboratories by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after purchasing an additional 3,344,508 shares during the period. Ameriprise Financial Inc. boosted its stake in Abbott Laboratories by 33.8% in the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after purchasing an additional 2,231,316 shares during the period. Finally, Swiss National Bank boosted its stake in Abbott Laboratories by 45.3% in the 1st quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock worth $289,943,000 after purchasing an additional 2,035,170 shares during the period. 71.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.65% during midday trading on Monday, hitting $52.36. 1,886,925 shares of the stock were exchanged. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $52.60. The firm’s 50 day moving average is $49.78 and its 200-day moving average is $46.71. The stock has a market capitalization of $90.97 billion, a price-to-earnings ratio of 73.33 and a beta of 1.06.

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

COPYRIGHT VIOLATION WARNING: “Abbott Laboratories (ABT) Shares Bought by Wellington Shields & Co. LLC” was first posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.themarketsdaily.com/2017/09/11/abbott-laboratories-abt-shares-bought-by-wellington-shields-co-llc.html.

A number of equities analysts recently weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, May 16th. TheStreet lowered shares of Abbott Laboratories from a “b” rating to a “c+” rating in a research note on Thursday, May 18th. BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) started coverage on shares of Abbott Laboratories in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $52.50.

In related news, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jared Watkin sold 552 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,702 shares of company stock valued at $10,837,658. 0.76% of the stock is owned by corporate insiders.

Abbott Laboratories 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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply