TD Asset Management Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,746,871 shares of the healthcare product maker’s stock after selling 29,283 shares during the quarter. TD Asset Management Inc. owned about 0.10% of Abbott Laboratories worth $128,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board grew its holdings in shares of Abbott Laboratories by 8.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after buying an additional 1,762 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $206,000. American Century Companies Inc. grew its holdings in shares of Abbott Laboratories by 417.9% during the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after buying an additional 4,507,553 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Abbott Laboratories by 0.8% during the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after buying an additional 9,229 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $1,793,000. Institutional investors own 72.30% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a report on Thursday, July 19th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a report on Thursday, October 18th. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, July 19th. Finally, Raymond James increased their price target on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $75.22.
In related news, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now owns 125,471 shares in the company, valued at $8,386,481.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the transaction, the insider now owns 35,576 shares in the company, valued at approximately $2,387,505.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,297 shares of company stock worth $14,018,743. 0.74% of the stock is owned by insiders.
Shares of Abbott Laboratories stock opened at $72.79 on Friday. The company has a market cap of $127.33 billion, a P/E ratio of 25.80, a P/E/G ratio of 2.15 and a beta of 1.39. Abbott Laboratories has a twelve month low of $54.32 and a twelve month high of $74.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.54%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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