Abacus Planning Group Inc. Takes Position in Abbott Laboratories (ABT)

Abacus Planning Group Inc. purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,151 shares of the healthcare product maker’s stock, valued at approximately $231,000.

A number of other large investors also recently added to or reduced their stakes in ABT. BlackRock Inc. grew its position in Abbott Laboratories by 3.7% in the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after acquiring an additional 4,153,157 shares during the last quarter. Morgan Stanley grew its position in Abbott Laboratories by 33.1% in the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after acquiring an additional 5,274,307 shares during the last quarter. Janus Henderson Group PLC grew its position in Abbott Laboratories by 12.0% in the 2nd quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after acquiring an additional 1,468,430 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Abbott Laboratories by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,477,591 shares of the healthcare product maker’s stock valued at $578,069,000 after acquiring an additional 67,093 shares during the last quarter. Finally, Swiss National Bank grew its position in Abbott Laboratories by 3.3% in the 2nd quarter. Swiss National Bank now owns 5,998,788 shares of the healthcare product maker’s stock valued at $365,866,000 after acquiring an additional 190,600 shares during the last quarter. Institutional investors own 72.30% of the company’s stock.

ABT opened at $70.96 on Wednesday. Abbott Laboratories has a 12-month low of $54.32 and a 12-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. The firm has a market cap of $123.28 billion, a PE ratio of 28.38, a PEG ratio of 2.08 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 2.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s payout ratio is 44.80%.

Several equities analysts have commented on the company. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Cowen upped their price objective on Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. upped their price objective on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 18th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $75.22.

In related news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares in the company, valued at approximately $2,877,447.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jared Watkin sold 65,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total value of $4,615,000.00. Following the sale, the insider now owns 128,640 shares of the company’s stock, valued at $9,133,440. The disclosure for this sale can be found here. Insiders have sold a total of 203,297 shares of company stock worth $14,018,743 in the last three months. Corporate insiders own 0.74% of the company’s stock.

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

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