Smithbridge Asset Management Inc. DE Purchases 390 Shares of Abbott Laboratories (NYSE:ABT)

Smithbridge Asset Management Inc. DE lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,603 shares of the healthcare product maker’s stock after purchasing an additional 390 shares during the period. Abbott Laboratories comprises 2.0% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 20th largest holding. Smithbridge Asset Management Inc. DE’s holdings in Abbott Laboratories were worth $3,565,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC raised its position in shares of Abbott Laboratories by 22.8% in the 1st quarter. Princeton Global Asset Management LLC now owns 4,450 shares of the healthcare product maker’s stock valued at $355,000 after acquiring an additional 825 shares during the period. Lowe Brockenbrough & Co. Inc. raised its position in shares of Abbott Laboratories by 2.5% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after acquiring an additional 1,514 shares during the period. Allstate Corp raised its position in shares of Abbott Laboratories by 0.7% in the 1st quarter. Allstate Corp now owns 148,103 shares of the healthcare product maker’s stock valued at $11,839,000 after acquiring an additional 1,100 shares during the period. Advisory Services Network LLC raised its position in shares of Abbott Laboratories by 4.7% in the 1st quarter. Advisory Services Network LLC now owns 17,749 shares of the healthcare product maker’s stock valued at $1,419,000 after acquiring an additional 796 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 36.2% in the 1st quarter. EP Wealth Advisors LLC now owns 7,713 shares of the healthcare product maker’s stock valued at $617,000 after acquiring an additional 2,048 shares during the period. Institutional investors own 73.76% of the company’s stock.

Shares of ABT traded up $2.16 during mid-day trading on Tuesday, hitting $81.98. 6,239,366 shares of the company’s stock were exchanged, compared to its average volume of 4,132,401. The company has a market cap of $140.74 billion, a PE ratio of 28.47, a P/E/G ratio of 2.24 and a beta of 1.13. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76. The company has a 50-day simple moving average of $82.92 and a 200 day simple moving average of $81.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period last year, the business earned $0.73 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.56%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other Abbott Laboratories news, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now directly owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sally E. Blount sold 2,500 shares of Abbott Laboratories stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the transaction, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The disclosure for this sale can be found here. Insiders sold 181,497 shares of company stock valued at $15,701,810 over the last three months. 0.70% of the stock is owned by company insiders.

ABT has been the topic of several research analyst reports. Cowen raised their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, BMO Capital Markets raised their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $86.54.

About Abbott Laboratories

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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