Ballentine Partners LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Ballentine Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,779 shares of the healthcare product maker’s stock after buying an additional 203 shares during the quarter. Ballentine Partners LLC’s holdings in Abbott Laboratories were worth $1,500,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. RPG Investment Advisory LLC increased its stake in Abbott Laboratories by 113.4% during the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 203 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of Abbott Laboratories by 278.4% in the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after buying an additional 270 shares during the last quarter. Bay Harbor Wealth Management LLC raised its position in Abbott Laboratories by 159.9% in the second quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 275 shares during the period. Islay Capital Management LLC bought a new position in Abbott Laboratories in the second quarter worth approximately $46,000. Finally, Arlington Partners LLC boosted its stake in shares of Abbott Laboratories by 1,187.8% during the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock worth $48,000 after acquiring an additional 487 shares during the last quarter. 73.09% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now directly owns 144,912 shares in the company, valued at approximately $16,209,856.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Randel William Woodgrift sold 2,500 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $105.28, for a total transaction of $263,200.00. Following the sale, the senior vice president now directly owns 46,267 shares of the company’s stock, valued at $4,870,989.76. The disclosure for this sale can be found here. Insiders sold a total of 84,919 shares of company stock valued at $9,283,128 over the last quarter. Company insiders own 1.70% of the company’s stock.

A number of equities analysts recently commented on the company. SVB Leerink raised their target price on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. Bank of America lifted their price objective on Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Credit Suisse Group reduced their price objective on shares of Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Raymond James boosted their target price on Abbott Laboratories from $102.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $115.18.

Abbott Laboratories stock traded down $1.69 during trading hours on Friday, hitting $107.79. The company had a trading volume of 3,573,013 shares, compared to its average volume of 4,941,311. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The firm has a market cap of $190.85 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.88 and a beta of 0.92. The company has a 50-day moving average price of $106.42 and a two-hundred day moving average price of $97.48. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.30%. The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders 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 1.34%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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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