Doliver Advisors LP decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,942 shares of the healthcare product maker’s stock after selling 340 shares during the quarter. Doliver Advisors LP’s holdings in Abbott Laboratories were worth $569,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ABT. Vanguard Group Inc. raised its position in shares of 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 worth $12,474,801,000 after purchasing an additional 2,262,152 shares during the last quarter. BlackRock Inc. raised its position in shares of Abbott Laboratories by 1.8% during the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after purchasing an additional 2,199,601 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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 worth $1,431,723,000 after purchasing an additional 149,307 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of 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 worth $1,040,985,000 after purchasing an additional 12,222,999 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $643,699,000 after purchasing an additional 199,283 shares during the last quarter. 73.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of ABT opened at $83.74 on Friday. The stock has a fifty day moving average of $82.03 and a two-hundred day moving average of $82.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54. The company has a market capitalization of $145.61 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. Abbott Laboratories has a fifty-two week low of $65.44 and a fifty-two week high of $88.76.
Abbott Laboratories (NYSE:ABT) last issued 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 company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. Abbott Laboratories’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 3.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is 44.44%.
In other news, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 97,755 shares in the company, valued at approximately $8,322,860.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Randel William Woodgrift sold 21,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Several brokerages recently issued reports on ABT. Morgan Stanley lifted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Wednesday, August 21st. Finally, Cowen boosted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $87.61.
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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