Crawford Investment Counsel Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,210 shares of the healthcare product maker’s stock after buying an additional 1,183 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in shares of Abbott Laboratories by 166.4% during the 2nd quarter. Acadian Asset Management LLC now owns 17,939 shares of the healthcare product maker’s stock worth $1,095,000 after purchasing an additional 11,206 shares during the period. Glenview State Bank Trust DEPT. grew its holdings in shares of Abbott Laboratories by 3.1% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 66,571 shares of the healthcare product maker’s stock worth $4,060,000 after purchasing an additional 1,986 shares during the period. Pinnacle Financial Partners Inc. grew its holdings in shares of Abbott Laboratories by 5.4% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 49,716 shares of the healthcare product maker’s stock worth $3,032,000 after purchasing an additional 2,568 shares during the period. RB Capital Management LLC grew its holdings in shares of Abbott Laboratories by 7.8% during the 2nd quarter. RB Capital Management LLC now owns 16,151 shares of the healthcare product maker’s stock worth $985,000 after purchasing an additional 1,166 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $977,000. 72.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on ABT shares. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Wells Fargo & Co boosted their target price on Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Raymond James boosted their target price on Abbott Laboratories from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Cowen boosted their target price on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Finally, JPMorgan Chase & Co. boosted their target price on Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $75.90.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. Abbott Laboratories’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.
In other Abbott Laboratories news, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the transaction, the senior vice president now owns 39,229 shares in the company, valued at approximately $2,877,447.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Miles D. White sold 142,341 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares of the company’s stock, valued at $250,272,034.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,273 shares of company stock valued at $19,410,942. 0.74% of the stock is owned by company insiders.
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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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