Pettyjohn Wood & White Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,855 shares of the healthcare product maker’s stock after selling 1,611 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Abbott Laboratories were worth $4,422,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Financial Inc. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $30,000. Redhawk Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $33,000. 1 North Wealth Services LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $38,000. Marquette Asset Management LLC boosted its stake in Abbott Laboratories by 173.4% in the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after buying an additional 300 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $41,000. 73.77% of the stock is currently owned by hedge funds and other institutional investors.
ABT has been the topic of several recent analyst reports. Cowen boosted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research note on Wednesday, August 21st. Raymond James decreased their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Finally, BMO Capital Markets boosted their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $87.61.
In other news, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total transaction 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 $5,521,983.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction 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 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. Insiders own 0.70% of the company’s stock.
ABT traded up $0.35 during trading on Friday, hitting $83.74. The company’s stock had a trading volume of 3,462,833 shares, compared to its average volume of 5,339,424. The firm’s 50 day moving average price is $82.03 and its two-hundred day moving average price is $82.21. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76. The stock has a market capitalization of $145.61 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Abbott Laboratories will post 3.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is currently 44.44%.
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 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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