Page Arthur B lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,361 shares of the healthcare product maker’s stock after selling 1,140 shares during the quarter. Abbott Laboratories accounts for approximately 3.7% of Page Arthur B’s investment portfolio, making the stock its 7th biggest position. Page Arthur B’s holdings in Abbott Laboratories were worth $4,355,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after purchasing an additional 4,153,157 shares in the last quarter. Morgan Stanley raised its stake in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after purchasing an additional 5,274,307 shares in the last quarter. Janus Henderson Group PLC raised its stake in Abbott Laboratories by 12.0% in the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after purchasing an additional 1,468,430 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Abbott Laboratories by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,477,591 shares of the healthcare product maker’s stock valued at $578,069,000 after purchasing an additional 67,093 shares in the last quarter. Finally, Swiss National Bank raised its stake in Abbott Laboratories by 3.3% in the second quarter. Swiss National Bank now owns 5,998,788 shares of the healthcare product maker’s stock valued at $365,866,000 after purchasing an additional 190,600 shares in the last quarter. 72.30% of the stock is owned by institutional investors.
In other news, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the transaction, the insider now owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 in the last ninety days. 0.74% of the stock is currently owned by insiders.
A number of research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 19th. JPMorgan Chase & Co. boosted their price target on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Stifel Nicolaus boosted their price target on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Finally, Barclays began coverage on Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 target price for the company. 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 stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $75.22.
Shares of NYSE ABT opened at $70.96 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The stock has a market cap of $123.28 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.39. Abbott Laboratories has a 12 month low of $54.32 and a 12 month high of $74.15.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
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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 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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