Icon Wealth Partners LLC Buys 34,915 Shares of Abbott Laboratories (NYSE:ABT)

Icon Wealth Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 329.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 45,516 shares of the healthcare product maker’s stock after acquiring an additional 34,915 shares during the period. Abbott Laboratories comprises about 1.0% of Icon Wealth Partners LLC’s holdings, making the stock its 17th largest position. Icon Wealth Partners LLC’s holdings in Abbott Laboratories were worth $4,954,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. RPG Investment Advisory LLC boosted its position in shares of Abbott Laboratories by 113.4% during the second quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 203 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Abbott Laboratories by 278.4% during the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock valued at $40,000 after buying an additional 270 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its position in shares of Abbott Laboratories by 159.9% during the second quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 275 shares during the last quarter. Islay Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $46,000. Finally, Arlington Partners LLC boosted its position in shares of Abbott Laboratories by 1,187.8% during the second quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock valued at $48,000 after buying an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Shares of ABT stock traded down $1.69 during trading hours on Friday, reaching $107.79. 3,573,013 shares of the company traded hands, compared to its average volume of 4,941,311. Abbott Laboratories has a 12-month low of $61.61 and a 12-month 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 company 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 firm has a 50-day moving average price of $106.42 and a 200 day moving average price of $97.48.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In related news, SVP Roger Bird sold 6,290 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $108.73, for a total transaction of $683,911.70. Following the sale, the senior vice president now owns 56,630 shares of the company’s stock, valued at approximately $6,157,379.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $111.86, for a total value of $4,751,700.94. Following the sale, the executive vice president now directly owns 144,912 shares in the company, valued at approximately $16,209,856.32. The disclosure for this sale can be found here. Insiders have sold a total of 84,919 shares of company stock worth $9,283,128 in the last three months. 1.70% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on ABT shares. Bank of America increased 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. Wells Fargo & Company increased their price objective on Abbott Laboratories from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Citigroup raised their target price on Abbott Laboratories from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. 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 research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $115.18.

Abbott Laboratories Company Profile

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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