Abbott Laboratories (ABT) Shares Bought by Pacer Advisors Inc.

Abbott Laboratories (ABT) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,283 shares of the healthcare product maker’s stock after buying an additional 229 shares during the period. Pacer Advisors Inc.’s holdings in Abbott Laboratories were worth $1,281,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock worth $1,423,400,000 after buying an additional 5,115,232 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Abbott Laboratories by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 29,256,692 shares of the healthcare product maker’s stock valued at $1,150,083,000 after buying an additional 376,446 shares during the period. BlackRock Fund Advisors raised its position in shares of Abbott Laboratories by 3.9% in the third quarter. BlackRock Fund Advisors now owns 23,656,893 shares of the healthcare product maker’s stock valued at $1,000,450,000 after buying an additional 878,861 shares during the period. Northern Trust Corp raised its position in shares of Abbott Laboratories by 9.4% in the third quarter. Northern Trust Corp now owns 22,494,731 shares of the healthcare product maker’s stock valued at $951,303,000 after buying an additional 1,937,416 shares during the period. Finally, Jarislowsky Fraser Ltd raised its position in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock valued at $1,060,533,000 after buying an additional 16,664,605 shares during the period. 62.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.10% during trading on Friday, reaching $41.00. 7,033,637 shares of the company were exchanged. Abbott Laboratories has a one year low of $36.02 and a one year high of $45.79. The firm’s 50 day moving average price is $39.63 and its 200 day moving average price is $41.18. The company has a market capitalization of $60.36 billion, a PE ratio of 43.76 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 25th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Abbott Laboratories had a return on equity of 15.74% and a net margin of 6.71%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Equities research analysts forecast that Abbott Laboratories will post $2.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 113.98%.

Several research analysts have recently issued reports on ABT shares. Jefferies Group LLC raised their target price on shares of Abbott Laboratories from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, January 10th. TheStreet lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. RBC Capital Markets reduced their target price on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada reduced their target price on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.33.

In other Abbott Laboratories news, Director Sally E. Blount purchased 5,100 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were purchased at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the acquisition, the director now owns 20,143 shares of the company’s stock, valued at $790,411.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Blaser purchased 15,580 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were acquired at an average price of $38.45 per share, for a total transaction of $599,051.00. Following the completion of the acquisition, the insider now directly owns 129,782 shares in the company, valued at approximately $4,990,117.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 154,911 shares of company stock worth $6,211,445 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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