Thompson Investment Management Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,273 shares of the healthcare product maker’s stock after selling 1,575 shares during the quarter. Thompson Investment Management Inc.’s holdings in Abbott Laboratories were worth $1,362,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ABT. Nuveen Asset Management LLC raised its holdings in shares of Abbott Laboratories by 7,888.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after purchasing an additional 12,222,999 shares during the period. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after purchasing an additional 2,262,152 shares during the period. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 1.8% in the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after purchasing an additional 2,199,601 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $158,475,000. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Abbott Laboratories by 8,669.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock valued at $140,128,000 after buying an additional 1,385,303 shares during the period. Institutional investors own 73.77% of the company’s stock.
Several equities research analysts recently commented on ABT shares. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. BMO Capital Markets raised their target price on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Morgan Stanley raised their target price on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Two 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 stock currently has an average rating of “Buy” and an average target price of $87.61.
Shares of NYSE:ABT traded up $0.35 during mid-day trading on Friday, hitting $83.74. 3,462,833 shares of the company traded hands, compared to its average volume of 5,339,424. Abbott Laboratories has a 52-week low of $65.44 and a 52-week high of $88.76. The firm’s 50 day simple moving average is $82.03 and its 200 day simple moving average is $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. The firm has a market cap of $145.61 billion, a P/E ratio of 29.08, a PEG 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 for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $8.10 billion. During the same quarter last year, the firm earned $0.75 EPS. Abbott Laboratories’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 3.25 EPS for the current fiscal 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 paid 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 yield of 1.53%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
In other Abbott Laboratories news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction that occurred 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 approximately $5,521,983.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were 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. 0.70% of the stock is owned by company insiders.
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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