Meiji Yasuda Life Insurance Co cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 67.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,662 shares of the healthcare product maker’s stock after selling 42,665 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Abbott Laboratories were worth $2,147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital Research Global Investors grew its holdings in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors grew its holdings in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Swedbank AB bought a new position in shares of Abbott Laboratories in the first quarter worth about $341,777,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after purchasing an additional 1,996,320 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Report on Abbott Laboratories
Abbott Laboratories Price Performance
Shares of NYSE ABT opened at $118.13 on Wednesday. The company has a fifty day moving average price of $109.88 and a 200 day moving average price of $108.56. The firm has a market cap of $205.50 billion, a PE ratio of 36.80, a PEG ratio of 2.90 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.
Abbott Laboratories Profile
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
Recommended Stories
- Five stocks we like better than Abbott Laboratories
- How to Calculate Inflation Rate
- Galmed Pharmaceuticals Surges 400%: What’s Behind the Explosion?
- Trading Stocks: RSI and Why it’s Useful
- Gold Hits New All-Time Highs: 3 Stocks to Ride the Surge
- What to Know About Investing in Penny Stocks
- Intel: Why It’s Time to Reconsider This Beaten-Down Chipmaker
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 – Free Report).
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.