Independent Franchise Partners LLP raised its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,023,328 shares of the healthcare product maker’s stock after purchasing an additional 195,187 shares during the quarter. Abbott Laboratories accounts for about 4.8% of Independent Franchise Partners LLP’s holdings, making the stock its 11th biggest position. Independent Franchise Partners LLP owned approximately 0.58% of Abbott Laboratories worth $534,844,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Fox Run Management L.L.C. raised its position in shares of Abbott Laboratories by 122.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 12,900 shares of the healthcare product maker’s stock worth $688,000 after purchasing an additional 7,100 shares during the last quarter. Sageworth Trust Co raised its holdings in Abbott Laboratories by 10.3% in the 3rd quarter. Sageworth Trust Co now owns 111,953 shares of the healthcare product maker’s stock valued at $5,974,000 after acquiring an additional 10,446 shares during the last quarter. Bartlett & Co. LLC raised its holdings in Abbott Laboratories by 0.7% in the 3rd quarter. Bartlett & Co. LLC now owns 897,160 shares of the healthcare product maker’s stock valued at $47,872,000 after acquiring an additional 6,391 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Abbott Laboratories by 0.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 147,010 shares of the healthcare product maker’s stock valued at $7,844,000 after acquiring an additional 1,269 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Abbott Laboratories by 0.5% in the 3rd quarter. Whittier Trust Co. now owns 407,819 shares of the healthcare product maker’s stock valued at $21,761,000 after acquiring an additional 2,078 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the transaction, the insider now owns 10,256 shares in the company, valued at approximately $572,900.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 501,172 shares of company stock valued at $27,533,150. 0.76% of the stock is owned by insiders.
ABT has been the subject of several analyst reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. began coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Finally, Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the stock a “buy” rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $60.24.
Abbott Laboratories (ABT) traded down $0.11 during trading on Friday, hitting $58.84. 6,320,000 shares of the stock traded hands, compared to its average volume of 6,520,000. The company has a market capitalization of $102,420.00, a PE ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. equities research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 92.56%.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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