Norway Savings Bank raised its position in Abbott Laboratories (NYSE:ABT) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,043 shares of the healthcare product maker’s stock after buying an additional 1,243 shares during the quarter. Abbott Laboratories makes up approximately 1.5% of Norway Savings Bank’s portfolio, making the stock its 13th biggest position. Norway Savings Bank’s holdings in Abbott Laboratories were worth $3,195,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Abbott Laboratories by 0.9% in the second quarter. Vanguard Group Inc. now owns 147,844,584 shares of the healthcare product maker’s stock valued at $17,139,623,000 after buying an additional 1,276,670 shares during the last quarter. State Street Corp increased its holdings in shares of Abbott Laboratories by 1.7% in the second quarter. State Street Corp now owns 71,745,046 shares of the healthcare product maker’s stock valued at $8,317,403,000 after purchasing an additional 1,222,298 shares during the period. Capital International Investors increased its holdings in shares of Abbott Laboratories by 2.6% in the second quarter. Capital International Investors now owns 55,968,342 shares of the healthcare product maker’s stock valued at $6,488,764,000 after purchasing an additional 1,408,600 shares during the period. Morgan Stanley increased its holdings in shares of Abbott Laboratories by 4.5% in the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after purchasing an additional 1,233,152 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Abbott Laboratories by 1.7% in the second quarter. Geode Capital Management LLC now owns 26,437,355 shares of the healthcare product maker’s stock valued at $3,054,988,000 after purchasing an additional 454,618 shares during the period. Institutional investors own 72.46% of the company’s stock.
Shares of NYSE ABT opened at $125.07 on Thursday. The company has a market cap of $221.16 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.68. Abbott Laboratories has a 12-month low of $105.32 and a 12-month high of $131.60. The company has a current ratio of 1.83, a quick ratio of 1.42 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $123.74 and its 200 day simple moving average is $120.66.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Friday, October 15th were given a $0.45 dividend. The ex-dividend date was Thursday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.67%.
A number of research analysts have recently issued reports on ABT shares. BTIG Research boosted their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Citigroup upped their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, October 1st. Morgan Stanley upped their price objective on Abbott Laboratories from $136.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 21st. Redburn Partners initiated coverage on Abbott Laboratories in a report on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective on the stock. Finally, Raymond James upped their price objective on Abbott Laboratories from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $134.94.
In other Abbott Laboratories news, EVP Andrew H. Lane sold 135,925 shares of the business’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $125.47, for a total value of $17,054,509.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Philip P. Boudreau sold 8,000 shares of Abbott Laboratories stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $126.49, for a total value of $1,011,920.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,783 shares of company stock valued at $23,066,012. Insiders own 1.50% of the company’s stock.
Abbott Laboratories Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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