Howland Capital Management LLC Has $2.31 Million Holdings in Abbott Laboratories (ABT)

Howland Capital Management LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 15.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,538 shares of the healthcare product maker’s stock after selling 5,811 shares during the quarter. Howland Capital Management LLC’s holdings in Abbott Laboratories were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Principal Financial Group Inc. raised its holdings in shares of Abbott Laboratories by 4.3% during the first quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock valued at $307,990,000 after acquiring an additional 211,233 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Abbott Laboratories by 18.9% during the first quarter. Summit Trail Advisors LLC now owns 18,403 shares of the healthcare product maker’s stock valued at $769,000 after acquiring an additional 2,923 shares during the last quarter. Avalon Advisors LLC raised its holdings in shares of Abbott Laboratories by 47.9% during the first quarter. Avalon Advisors LLC now owns 6,397 shares of the healthcare product maker’s stock valued at $383,000 after acquiring an additional 2,072 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Abbott Laboratories by 3.0% during the second quarter. Gulf International Bank UK Ltd now owns 563,273 shares of the healthcare product maker’s stock valued at $34,354,000 after acquiring an additional 16,363 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in shares of Abbott Laboratories by 0.3% during the second quarter. Tandem Investment Advisors Inc. now owns 263,225 shares of the healthcare product maker’s stock valued at $16,054,000 after acquiring an additional 897 shares during the last quarter. 72.30% of the stock is currently owned by hedge funds and other institutional investors.

ABT has been the subject of a number of research analyst reports. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, September 18th. Barclays initiated coverage on Abbott Laboratories in a report on Monday, October 15th. They set an “overweight” rating and a $80.00 target price for the company. JPMorgan Chase & Co. increased their target price on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, October 8th. Wells Fargo & Co increased their target price on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Finally, Cowen increased their target price on Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $75.22.



In related news, insider Sharon J. Bracken sold 615 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total value of $40,073.40. Following the completion of the transaction, the insider now directly owns 40,761 shares in the company, valued at $2,655,986.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the transaction, the insider now owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The disclosure for this sale can be found here. Insiders sold 138,912 shares of company stock valued at $9,443,816 over the last quarter. 0.74% of the stock is currently owned by company insiders.

ABT stock opened at $66.99 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $117.52 billion, a PE ratio of 23.84, a P/E/G ratio of 1.99 and a beta of 1.49. Abbott Laboratories has a 1 year low of $53.61 and a 1 year high of $74.15.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a return on equity of 16.01% and a net margin of 2.91%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts predict that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 annualized dividend and a yield of 1.67%. Abbott Laboratories’s payout ratio is 44.80%.

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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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