Cullen Frost Bankers Inc. Acquires 285 Shares of Abbott Laboratories (NYSE:ABT)

Cullen Frost Bankers Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,156 shares of the healthcare product maker’s stock after purchasing an additional 285 shares during the period. Cullen Frost Bankers Inc.’s holdings in Abbott Laboratories were worth $3,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Abbott Laboratories by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after acquiring an additional 2,262,152 shares during the period. BlackRock Inc. increased its stake in Abbott Laboratories by 1.8% during the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after purchasing an additional 2,199,601 shares in the last quarter. Janus Henderson Group PLC increased its stake in Abbott Laboratories by 0.9% during the 2nd quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after purchasing an additional 149,307 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Abbott Laboratories by 7,888.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after purchasing an additional 12,222,999 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,653,964 shares of the healthcare product maker’s stock valued at $643,699,000 after purchasing an additional 199,283 shares in the last quarter. 73.77% of the stock is currently owned by institutional investors.

NYSE ABT traded up $0.05 during trading hours on Friday, hitting $83.44. 1,460,183 shares of the company’s stock traded hands, compared to its average volume of 5,256,395. The business’s fifty day moving average price is $82.03 and its two-hundred day moving average price is $82.21. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $145.61 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.38 and a beta of 1.13. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 3.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other Abbott Laboratories news, SVP Joseph J. Manning sold 47,226 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at approximately $5,521,983.48. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

A number of analysts have weighed in on ABT shares. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James reduced their price objective on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. William Blair restated an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $87.61.

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

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