Daiwa Securities Group Inc. Raises Stake in Abbott Laboratories (NYSE:ABT)

Daiwa Securities Group Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 58.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 168,814 shares of the healthcare product maker’s stock after purchasing an additional 62,185 shares during the period. Daiwa Securities Group Inc.’s holdings in Abbott Laboratories were worth $14,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bath Savings Trust Co increased its stake in Abbott Laboratories by 2.7% in the 2nd quarter. Bath Savings Trust Co now owns 52,679 shares of the healthcare product maker’s stock worth $4,430,000 after acquiring an additional 1,375 shares during the last quarter. Cox Capital Mgt LLC increased its position in shares of Abbott Laboratories by 5.0% during the 2nd quarter. Cox Capital Mgt LLC now owns 20,915 shares of the healthcare product maker’s stock valued at $1,759,000 after purchasing an additional 1,002 shares during the last quarter. Thomasville National Bank increased its position in shares of Abbott Laboratories by 1.6% during the 2nd quarter. Thomasville National Bank now owns 28,673 shares of the healthcare product maker’s stock valued at $2,411,000 after purchasing an additional 455 shares during the last quarter. Private Trust Co. NA increased its position in shares of Abbott Laboratories by 7.0% during the 2nd quarter. Private Trust Co. NA now owns 36,943 shares of the healthcare product maker’s stock valued at $3,106,000 after purchasing an additional 2,411 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its position in shares of Abbott Laboratories by 1.2% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 31,146 shares of the healthcare product maker’s stock valued at $2,619,000 after purchasing an additional 373 shares during the last quarter. 73.77% of the stock is currently owned by institutional investors and hedge funds.

In other Abbott Laboratories news, SVP Randel William Woodgrift sold 21,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the sale, the senior vice president now owns 68,562 shares in the company, valued at approximately $5,521,983.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the sale, the senior vice president now owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

ABT stock traded up $0.35 during trading on Friday, hitting $83.74. 3,448,258 shares of the company traded hands, compared to its average volume of 5,256,395. The firm has a market capitalization of $145.61 billion, a PE ratio of 29.08, a P/E/G ratio of 2.38 and a beta of 1.13. Abbott Laboratories has a 1 year low of $65.44 and a 1 year high of $88.76. The company has a 50-day moving average of $82.03 and a 200-day moving average of $82.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business posted $0.75 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 3.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

ABT has been the topic of several recent research reports. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a research report on Thursday, October 17th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen increased their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Raymond James reduced their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $87.61.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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