Bank of Montreal Can grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 26.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,570,322 shares of the healthcare product maker’s stock after purchasing an additional 535,939 shares during the period. Bank of Montreal Can owned approximately 0.15% of Abbott Laboratories worth $188,557,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Atlantic Trust LLC acquired a new position in shares of Abbott Laboratories in the second quarter worth about $104,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth about $114,000. FNY Investment Advisers LLC acquired a new position in shares of Abbott Laboratories in the second quarter worth about $118,000. Fort L.P. acquired a new position in shares of Abbott Laboratories in the second quarter worth about $119,000. Finally, Security National Bank of SO Dak boosted its holdings in shares of Abbott Laboratories by 72.0% in the second 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 during the period. Institutional investors own 72.16% of the company’s stock.
Several research analysts have commented on ABT shares. Cowen raised their target price on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Stifel Nicolaus raised their target price on shares of 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 shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Morgan Stanley raised their target price on shares of 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 issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $73.72.
NYSE ABT opened at $69.33 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $128.70 billion, a PE ratio of 27.69, a P/E/G ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a 52-week low of $53.61 and a 52-week high of $74.15.
Abbott Laboratories (NYSE:ABT) last posted its quarterly 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. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 2.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given 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 of this dividend is Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
In other news, SVP Sharon J. Bracken sold 1,732 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharon J. Bracken sold 615 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the sale, the insider now directly owns 40,761 shares of the company’s stock, valued at $2,655,986.76. The disclosure for this sale can be found here. Insiders sold 155,321 shares of company stock valued at $10,492,583 over the last three months. 0.74% of the stock is owned by insiders.
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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