Bennicas & Associates Inc. Buys 583 Shares of Abbott Laboratories (NYSE:ABT)

Bennicas & Associates Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,741 shares of the healthcare product maker’s stock after acquiring an additional 583 shares during the period. Abbott Laboratories accounts for about 1.1% of Bennicas & Associates Inc.’s holdings, making the stock its 29th biggest holding. Bennicas & Associates Inc.’s holdings in Abbott Laboratories were worth $1,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Public Employees Retirement Association of Colorado raised its holdings in Abbott Laboratories by 6.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,344,361 shares of the healthcare product maker’s stock worth $106,084,000 after acquiring an additional 82,869 shares in the last quarter. State Street Corp raised its stake in Abbott Laboratories by 0.7% in the first quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after buying an additional 528,871 shares during the period. Two Sigma Advisers LP raised its stake in Abbott Laboratories by 217.1% in the first quarter. Two Sigma Advisers LP now owns 547,800 shares of the healthcare product maker’s stock valued at $43,227,000 after buying an additional 375,039 shares during the period. Parametrica Management Ltd bought a new stake in Abbott Laboratories in the first quarter valued at approximately $216,000. Finally, APG Asset Management N.V. raised its stake in Abbott Laboratories by 176.8% in the first quarter. APG Asset Management N.V. now owns 2,011,447 shares of the healthcare product maker’s stock valued at $158,723,000 after buying an additional 1,284,722 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.

ABT has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Abbott Laboratories from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Citigroup upped their price objective on Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. upped their price objective on Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Credit Suisse Group upped their price objective on Abbott Laboratories from $109.00 to $136.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Finally, Stifel Nicolaus increased their target price on Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $114.44.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $107.01, for a total value of $3,210,300.00. Following the sale, the executive vice president now owns 74,080 shares of the company’s stock, valued at approximately $7,927,300.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 3,650 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $102.47, for a total value of $374,015.50. Following the completion of the sale, the executive vice president now directly owns 44,080 shares in the company, valued at approximately $4,516,877.60. The disclosure for this sale can be found here. Insiders have sold 114,771 shares of company stock worth $12,220,943 in the last three months. 1.70% of the stock is currently owned by company insiders.

Shares of NYSE:ABT opened at $109.67 on Friday. The company has a market capitalization of $194.17 billion, a P/E ratio of 63.39, a P/E/G ratio of 3.06 and a beta of 0.92. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10. The business’s 50 day simple moving average is $106.58 and its 200 day simple moving average is $96.39.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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