Abbott Laboratories (ABT) Holdings Trimmed by BLB&B Advisors LLC

BLB&B Advisors LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 6.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 67,369 shares of the healthcare product maker’s stock after selling 4,827 shares during the quarter. BLB&B Advisors LLC’s holdings in Abbott Laboratories were worth $4,942,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABT. Atlantic Trust LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $104,000. Rainier Group Investment Advisory LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $114,000. FNY Investment Advisers LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $118,000. Fort L.P. bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $119,000. Finally, Security National Bank of SO Dak boosted its holdings in shares of Abbott Laboratories by 72.0% during the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after buying an additional 878 shares in the last quarter. 72.16% of the stock is owned by institutional investors and hedge funds.

Shares of ABT opened at $69.33 on Friday. Abbott Laboratories has a 12-month low of $53.61 and a 12-month high of $74.15. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $128.70 billion, a P/E ratio of 27.73, a PEG ratio of 2.05 and a beta of 1.49.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same period last year, the business earned $0.62 EPS. Abbott Laboratories’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

In related news, insider Michael J. Pederson sold 1,050 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.43, for a total value of $66,601.50. Following the transaction, the insider now directly owns 79,467 shares in the company, valued at approximately $5,040,591.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sharon J. Bracken sold 615 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $65.16, for a total value of $40,073.40. Following the completion of the transaction, the insider now owns 40,761 shares in the company, valued at $2,655,986.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,321 shares of company stock worth $10,492,583. 0.74% of the stock is owned by company insiders.

ABT has been the topic of a number of research analyst reports. Cowen increased their price target on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Stifel Nicolaus increased their price target on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada restated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Morgan Stanley increased their price target on Abbott Laboratories from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $73.72.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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