Candriam Luxembourg S.C.A. Has $27.76 Million Stake in Abbott Laboratories (ABT)

Candriam Luxembourg S.C.A. Has $27.76 Million Stake in Abbott Laboratories (ABT)

Several other hedge funds have also added to or reduced their stakes in the stock. Usca Ria LLC boosted its stake in Abbott Laboratories by 1.3% in the third quarter. Usca Ria LLC now owns 37,403 shares of the healthcare product maker’s stock worth $1,582,000 after buying an additional 468 shares during the last quarter. Check Capital Management Inc. CA boosted its stake in Abbott Laboratories by 9.6% in the third quarter. Check Capital Management Inc. CA now owns 91,476 shares of the healthcare product maker’s stock worth $3,869,000 after buying an additional 8,000 shares during the last quarter. Banco Santander S.A. acquired a new stake in Abbott Laboratories during the fourth quarter worth about $5,189,000. Perceptive Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $1,921,000. Finally, Sandy Spring Bank boosted its stake in Abbott Laboratories by 8.4% in the third quarter. Sandy Spring Bank now owns 117,385 shares of the healthcare product maker’s stock worth $4,992,000 after buying an additional 9,066 shares during the last quarter. 62.20% of the stock is owned by institutional investors.

Candriam Luxembourg S.C.A. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 45.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 625,064 shares of the healthcare product maker’s stock after buying an additional 196,395 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Abbott Laboratories were worth $27,760,000 at the end of the most recent reporting period.

Abbott Laboratories (ABT) traded up 1.07% during mid-day trading on Wednesday, reaching $45.48. The company had a trading volume of 2,256,159 shares. Abbott Laboratories has a one year low of $36.76 and a one year high of $45.84. The company’s 50-day moving average is $43.82 and its 200-day moving average is $42.32. The stock has a market capitalization of $78.92 billion, a PE ratio of 47.33 and a beta of 0.97.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The business had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. Abbott Laboratories’s revenue for the quarter was up 29.7% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post $2.47 earnings per share for the current year.

A number of analysts have recently issued reports on ABT shares. Zacks Investment Research cut Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Royal Bank of Canada raised their price objective on Abbott Laboratories from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Abbott Laboratories in a research report on Friday, February 17th. BMO Capital Markets cut Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Tuesday, March 14th. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Wednesday, March 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.83.

In related news, insider Joseph J. Manning sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $43.95, for a total value of $184,590.00. Following the transaction, the insider now owns 26,224 shares in the company, valued at $1,152,544.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roger Bird sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $43.82, for a total value of $245,392.00. Following the completion of the transaction, the insider now owns 51,313 shares in the company, valued at approximately $2,248,535.66. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

About Abbott Laboratories

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ABT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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