Abbott Laboratories (ABT) Stake Raised by Private Advisor Group LLC

Private Advisor Group LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,531 shares of the healthcare product maker’s stock after buying an additional 20,856 shares during the quarter. Private Advisor Group LLC’s holdings in Abbott Laboratories were worth $11,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of ABT. Ontario Teachers Pension Plan Board lifted its position in Abbott Laboratories by 8.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after purchasing an additional 1,762 shares during the period. HRT Financial LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $206,000. American Century Companies Inc. lifted its position in Abbott Laboratories by 417.9% during the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after purchasing an additional 4,507,553 shares during the period. Baird Financial Group Inc. lifted its position in Abbott Laboratories by 0.8% during the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after purchasing an additional 9,229 shares during the period. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $1,793,000. Hedge funds and other institutional investors own 72.30% of the company’s stock.

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. Abbott Laboratories has a 1-year low of $54.32 and a 1-year high of $74.15. The company has a market capitalization of $127.33 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 2.89 EPS for the current year.

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

In other Abbott Laboratories news, 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 value of $4,615,000.00. Following the transaction, the insider now directly owns 128,640 shares in the company, valued at $9,133,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total transaction of $610,499.67. Following the completion of the transaction, the insider now owns 35,576 shares in the company, valued at $2,387,505.36. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock worth $14,018,743 over the last quarter. Insiders own 0.74% of the company’s stock.

A number of research analysts recently weighed in on ABT shares. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Thursday, July 19th. Royal Bank of Canada restated a “buy” rating and set a $70.00 price objective on shares of Abbott Laboratories in a research report on Thursday, July 19th. Wells Fargo & Co increased their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, Raymond James increased their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $75.22.

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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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