Pacer Advisors Inc. Has $15.41 Million Holdings in Abbott Laboratories (NYSE:ABT)

Pacer Advisors Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 4.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 148,313 shares of the healthcare product maker’s stock after selling 7,552 shares during the quarter. Pacer Advisors Inc.’s holdings in Abbott Laboratories were worth $15,411,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter worth $28,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the first quarter worth $30,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories during the fourth quarter worth $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories during the fourth quarter worth $29,000. Finally, True Wealth Design LLC boosted its stake in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $113.70 on Monday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a 50-day simple moving average of $110.50 and a 200 day simple moving average of $108.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a market capitalization of $197.80 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. On average, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler started coverage on shares of Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 price objective on the stock. Barclays raised their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $123.33.

Abbott Laboratories Company 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.