WealthTrust Fairport LLC Boosts Position in Abbott Laboratories (ABT)

WealthTrust Fairport LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,795 shares of the healthcare product maker’s stock after purchasing an additional 1,579 shares during the quarter. WealthTrust Fairport LLC’s holdings in Abbott Laboratories were worth $8,715,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Abbott Laboratories by 3.7% during the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after acquiring an additional 4,153,157 shares during the period. Morgan Stanley raised its holdings in Abbott Laboratories by 33.1% during the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after acquiring an additional 5,274,307 shares during the period. Janus Henderson Group PLC raised its holdings in Abbott Laboratories by 12.0% during the 2nd quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after acquiring an additional 1,468,430 shares during the period. Dimensional Fund Advisors LP raised its holdings in Abbott Laboratories by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,477,591 shares of the healthcare product maker’s stock valued at $578,069,000 after acquiring an additional 67,093 shares during the period. Finally, Swiss National Bank raised its holdings in Abbott Laboratories by 3.3% during the 2nd quarter. Swiss National Bank now owns 5,998,788 shares of the healthcare product maker’s stock valued at $365,866,000 after acquiring an additional 190,600 shares during the period. 72.30% of the stock is currently owned by institutional investors.

In related news, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now directly owns 125,471 shares in the company, valued at $8,386,481.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,387,505.36. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 over the last quarter. 0.74% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on ABT shares. Cowen boosted their target price on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a report on Friday, October 5th. Stifel Nicolaus boosted their price target 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 lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research 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 research report on Thursday, July 19th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. One 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 has a consensus rating of “Buy” and an average target price of $75.22.

ABT opened at $72.79 on Friday. The firm 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. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a one year low of $54.32 and a one year high of $74.15.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business earned $0.66 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors 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 dividend payout ratio (DPR) is presently 44.80%.

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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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