Strategy Asset Managers LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 44,129 shares of the healthcare product maker’s stock, valued at approximately $3,237,000.
A number of other large investors have also recently modified their holdings of the stock. Private Advisor Group LLC raised its holdings in Abbott Laboratories by 15.4% in the third quarter. Private Advisor Group LLC now owns 156,531 shares of the healthcare product maker’s stock valued at $11,483,000 after acquiring an additional 20,856 shares in the last quarter. WealthTrust Axiom LLC purchased a new position in Abbott Laboratories in the third quarter valued at approximately $209,000. Morse Asset Management Inc purchased a new position in Abbott Laboratories in the third quarter valued at approximately $313,000. Boston Family Office LLC increased its stake in Abbott Laboratories by 5.2% in the third quarter. Boston Family Office LLC now owns 111,362 shares of the healthcare product maker’s stock valued at $8,170,000 after purchasing an additional 5,529 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Abbott Laboratories by 0.6% in the third quarter. Synovus Financial Corp now owns 229,343 shares of the healthcare product maker’s stock valued at $16,818,000 after purchasing an additional 1,283 shares during the last quarter. 72.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ABT opened at $72.79 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. The company has a market cap of $127.33 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.15.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. Analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.54%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
ABT has been the topic of several recent analyst reports. Cowen increased their price target on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, September 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 19th. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 18th. One 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. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $75.22.
In other news, SVP Sharon J. Bracken sold 1,732 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now directly owns 39,229 shares in the company, valued at $2,877,447.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jaime Contreras sold 64,268 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now owns 125,471 shares in the company, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,297 shares of company stock worth $14,018,743. Insiders own 0.74% of the company’s stock.
Abbott Laboratories 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.
Further Reading: Swap
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).
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.