Seeyond Has $2.03 Million Position in Abbott Laboratories (NYSE:ABT)

Seeyond cut its stake in Abbott Laboratories (NYSE:ABT) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,545 shares of the healthcare product maker’s stock after selling 224 shares during the period. Seeyond’s holdings in Abbott Laboratories were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Abbott Laboratories by 1.7% in the second quarter. Geode Capital Management LLC now owns 26,437,355 shares of the healthcare product maker’s stock valued at $3,054,988,000 after purchasing an additional 454,618 shares during the period. Freemont Management S.A. raised its position in shares of Abbott Laboratories by 28.4% in the second quarter. Freemont Management S.A. now owns 122,020 shares of the healthcare product maker’s stock valued at $14,146,000 after purchasing an additional 27,000 shares during the period. Gotham Asset Management LLC raised its position in shares of Abbott Laboratories by 13.9% in the first quarter. Gotham Asset Management LLC now owns 55,367 shares of the healthcare product maker’s stock valued at $6,635,000 after purchasing an additional 6,741 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Abbott Laboratories by 0.4% in the second quarter. Brown Brothers Harriman & Co. now owns 2,308,336 shares of the healthcare product maker’s stock valued at $267,605,000 after purchasing an additional 9,523 shares during the period. Finally, Blackhawk Capital Partners LLC. raised its position in shares of Abbott Laboratories by 43.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 17,318 shares of the healthcare product maker’s stock valued at $2,075,000 after purchasing an additional 5,236 shares during the period. 72.05% of the stock is currently owned by institutional investors.

ABT stock traded up $0.32 during mid-day trading on Thursday, hitting $117.32. The stock had a trading volume of 25,562 shares, compared to its average volume of 5,370,625. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. Abbott Laboratories has a 52 week low of $103.13 and a 52 week high of $129.70. The firm has a market capitalization of $207.99 billion, a P/E ratio of 32.96, a P/E/G ratio of 2.45 and a beta of 0.66. The firm has a fifty day simple moving average of $123.59 and a 200 day simple moving average of $119.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $9.67 billion. During the same period last year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is currently 49.32%.

In related news, EVP Andrew H. Lane sold 135,925 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $125.47, for a total transaction of $17,054,509.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sammy Karam sold 8,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 222,883 shares of company stock worth $27,964,400. 1.50% of the stock is currently owned by corporate insiders.

Several equities analysts have recently weighed in on the stock. SVB Leerink increased their price objective on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research report on Tuesday, July 20th. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, October 1st. Raymond James raised their price target on shares of Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. BTIG Research raised their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target on the stock in a research report on Tuesday, August 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $130.52.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

Read More: Understanding the different types of bonds

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.