Abbott Laboratories (ABT) Stake Boosted by Gardiner Nancy B

Gardiner Nancy B grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,927 shares of the healthcare product maker’s stock after acquiring an additional 2,135 shares during the quarter. Abbott Laboratories comprises approximately 2.7% of Gardiner Nancy B’s investment portfolio, making the stock its 16th largest holding. Gardiner Nancy B’s holdings in Abbott Laboratories were worth $1,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Villere ST Denis J & Co. LLC increased its holdings in Abbott Laboratories by 2.3% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after buying an additional 5,950 shares during the period. Gratus Capital LLC increased its holdings in Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after buying an additional 1,869 shares during the period. Comerica Securities Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $2,833,000. AQR Capital Management LLC increased its holdings in Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after buying an additional 460,477 shares during the period. Finally, Century Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $4,332,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.

In other news, insider Sharon J. Bracken sold 2,188 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Miles D. White sold 276,886 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last quarter. Insiders own 0.76% of the company’s stock.

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Monday, October 2nd. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Cowen reiterated a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.56.

Shares of Abbott Laboratories (NYSE:ABT) opened at $57.00 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 52-week low of $38.07 and a 52-week high of $57.32. The company has a market capitalization of $99,092.41, a P/E ratio of 44.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

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About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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