Midwest Professional Planners LTD. boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 39.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,307 shares of the healthcare product maker’s stock after buying an additional 4,294 shares during the quarter. Abbott Laboratories makes up about 1.0% of Midwest Professional Planners LTD.’s holdings, making the stock its 19th biggest holding. Midwest Professional Planners LTD.’s holdings in Abbott Laboratories were worth $1,123,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Abbott Laboratories by 102,159.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after purchasing an additional 27,208,125 shares during the period. Morgan Stanley increased its position 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 purchasing an additional 5,274,307 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in Abbott Laboratories during the 2nd quarter valued at $275,697,000. American Century Companies Inc. increased its position in Abbott Laboratories by 417.9% during the 2nd 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. Finally, BlackRock Inc. increased its position 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 purchasing an additional 4,153,157 shares during the period. Institutional investors own 72.83% of the company’s stock.
In other news, Chairman Miles D. White sold 142,341 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total value of $10,298,371.35. Following the sale, the chairman now directly owns 3,459,185 shares of the company’s stock, valued at approximately $250,272,034.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jared Watkin sold 65,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the sale, the insider now directly owns 128,640 shares in the company, valued at $9,133,440. The disclosure for this sale can be found here. Insiders sold a total of 272,273 shares of company stock worth $19,410,942 over the last ninety days. Insiders own 0.74% of the company’s stock.
ABT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, September 18th. Barclays initiated coverage on shares of Abbott Laboratories in a research report on Monday, October 15th. They set an “overweight” rating and a $80.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.00.
NYSE:ABT opened at $69.95 on Friday. The stock has a market capitalization of $125.65 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.40. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 1-year low of $54.33 and a 1-year high of $74.92.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate 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 was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts forecast that Abbott Laboratories will post 2.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.
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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