Abbott Laboratories (ABT) Stake Boosted by Welch Group LLC

Welch Group LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,088 shares of the healthcare product maker’s stock after acquiring an additional 1,531 shares during the period. Welch Group LLC’s holdings in Abbott Laboratories were worth $1,327,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABT. BlackRock Inc. raised its stake in Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after buying an additional 4,153,157 shares in the last quarter. Morgan Stanley raised its stake in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock worth $1,294,103,000 after buying an additional 5,274,307 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Abbott Laboratories by 12.0% in the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock worth $836,067,000 after purchasing an additional 1,468,430 shares during the period. Dimensional Fund Advisors LP grew its holdings in Abbott Laboratories by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,477,591 shares of the healthcare product maker’s stock worth $578,069,000 after purchasing an additional 67,093 shares during the period. Finally, Swiss National Bank grew its holdings in Abbott Laboratories by 3.3% in the second quarter. Swiss National Bank now owns 5,998,788 shares of the healthcare product maker’s stock worth $365,866,000 after purchasing an additional 190,600 shares during the period. 72.30% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $127,042.20. Following the sale, the senior vice president now owns 39,229 shares in the company, valued at $2,877,447.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jared Watkin sold 65,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the sale, the insider now owns 128,640 shares in the company, valued at approximately $9,133,440. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,297 shares of company stock worth $14,018,743. Corporate insiders own 0.74% of the company’s stock.

NYSE:ABT opened at $72.79 on Friday. Abbott Laboratories has a 52 week low of $54.32 and a 52 week high of $74.15. 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 PEG ratio of 2.15 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s payout ratio is 44.80%.

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 19th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 18th. Stifel Nicolaus upped their price objective 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. Finally, Raymond James upped their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.22.

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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.

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

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