Haverford Trust Co. Decreases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Haverford Trust Co. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,432 shares of the healthcare product maker’s stock after selling 5,918 shares during the period. Haverford Trust Co.’s holdings in Abbott Laboratories were worth $6,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Manchester Financial Inc. acquired a new stake in Abbott Laboratories in the second quarter valued at $30,000. Redhawk Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the second quarter valued at $33,000. 1 North Wealth Services LLC acquired a new stake in Abbott Laboratories in the third quarter valued at $38,000. Marquette Asset Management LLC raised its holdings in Abbott Laboratories by 173.4% in the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after acquiring an additional 300 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Abbott Laboratories in the second quarter valued at $41,000. 73.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, 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. Corporate insiders own 0.70% of the company’s stock.

ABT traded up $0.35 on Friday, reaching $83.74. The company had a trading volume of 3,448,422 shares, compared to its average volume of 5,339,424. The company has a fifty day moving average of $82.03 and a 200-day moving average of $82.21. The company has a market capitalization of $145.61 billion, a P/E ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.84. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. Abbott Laboratories’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Research analysts predict that Abbott Laboratories will post 3.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.32 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Several analysts recently issued reports on the stock. Credit Suisse Group upped their price target on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Wednesday, August 21st. Cowen increased their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, William Blair reissued an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $87.61.

About Abbott Laboratories

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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