Whitnell & Co. grew its holdings in Abbott Laboratories (NYSE:ABT) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,606 shares of the healthcare product maker’s stock after purchasing an additional 7,830 shares during the period. Abbott Laboratories makes up about 1.6% of Whitnell & Co.’s holdings, making the stock its 15th biggest position. Whitnell & Co.’s holdings in Abbott Laboratories were worth $4,736,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ABT. Manchester Financial Inc. purchased a new position in Abbott Laboratories in the 2nd quarter worth approximately $30,000. Redhawk Wealth Advisors Inc. purchased a new position in Abbott Laboratories in the 2nd quarter worth approximately $33,000. 1 North Wealth Services LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $38,000. Marquette Asset Management LLC grew 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 worth $40,000 after buying an additional 300 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $41,000. 73.77% of the stock is currently owned by institutional investors.
In related news, SVP Randel William Woodgrift sold 21,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at approximately $5,521,983.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the completion of the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
ABT has been the subject of a number of research reports. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Credit Suisse Group increased their price target on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $87.61.
ABT traded up $0.35 during trading on Friday, hitting $83.74. 3,388,511 shares of the stock traded hands, compared to its average volume of 5,339,424. The firm has a market capitalization of $145.61 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. The firm has a 50-day moving average of $82.03 and a 200 day moving average of $82.26. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, equities analysts predict that Abbott Laboratories will post 3.25 EPS for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.53%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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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