McCollum Christoferson Group LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,488 shares of the healthcare product maker’s stock after selling 101 shares during the period. Abbott Laboratories makes up 2.4% of McCollum Christoferson Group LLC’s holdings, making the stock its 15th biggest holding. McCollum Christoferson Group LLC’s holdings in Abbott Laboratories were worth $8,324,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC lifted its holdings in Abbott Laboratories by 278.4% in 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 period. RPG Investment Advisory LLC lifted its holdings in Abbott Laboratories by 113.4% in 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 period. Bay Harbor Wealth Management LLC raised its holdings 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 purchasing an additional 275 shares during the period. Islay Capital Management LLC acquired a new position in shares of Abbott Laboratories during the second quarter valued at about $46,000. Finally, Arlington Partners LLC raised its holdings 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 purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.
Several brokerages have recently weighed in on ABT. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group dropped their price objective on shares of Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday. Raymond James upped their price objective on shares of Abbott Laboratories from $102.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday. Finally, SVB Leerink upped their price objective on shares of Abbott Laboratories from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $115.18.
ABT stock traded down $1.69 during trading on Friday, reaching $107.79. The stock had a trading volume of 3,573,013 shares, compared to its average volume of 4,941,311. Abbott Laboratories has a one year low of $61.61 and a one year high of $114.19. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $106.42 and its two-hundred day moving average is $97.48. The company has a market capitalization of $190.85 billion, a price-to-earnings ratio of 57.03, a P/E/G ratio of 2.88 and a beta of 0.92.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. 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 payout ratio is 44.44%.
Abbott Laboratories 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; MÃ©niÃ¨re'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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