Abbott Laboratories (ABT) Stake Lifted by Advisor Group Inc.

Advisor Group Inc. grew its holdings in Abbott Laboratories (NYSE:ABT) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 134,641 shares of the healthcare product maker’s stock after purchasing an additional 4,477 shares during the period. Advisor Group Inc.’s holdings in Abbott Laboratories were worth $7,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gratus Capital LLC lifted its position in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after acquiring an additional 1,869 shares during the period. Vantage Investment Advisors LLC lifted its position in Abbott Laboratories by 103.4% during the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after acquiring an additional 36,683 shares during the period. Amalgamated Bank lifted its position in Abbott Laboratories by 57.6% during the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after acquiring an additional 69,871 shares during the period. Zurich Insurance Group Ltd FI lifted its position in Abbott Laboratories by 2.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after acquiring an additional 5,790 shares during the period. Finally, Sather Financial Group Inc acquired a new stake in Abbott Laboratories during the 2nd quarter worth approximately $292,000. Institutional investors and hedge funds own 71.15% of the company’s stock.

Abbott Laboratories (NYSE ABT) opened at $58.83 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.60. The company has a market capitalization of $102,400.00, a PE ratio of 48.62, a P/E/G ratio of 1.88 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. analysts forecast that Abbott Laboratories will post 2.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 87.60%.

Several equities analysts recently weighed in on ABT shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays raised their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Bank of America reaffirmed a “buy” rating and issued a $60.00 price objective (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus raised their price objective on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $60.24.

In other news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares in the company, valued at $200,115,246.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the transaction, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 501,172 shares of company stock valued at $27,533,150. 0.76% of the stock is owned by corporate insiders.

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Abbott Laboratories Company Profile

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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