Alps Advisors Inc. Acquires 6,369 Shares of Abbott Laboratories (ABT)

Alps Advisors Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 36.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,883 shares of the healthcare product maker’s stock after buying an additional 6,369 shares during the period. Alps Advisors Inc.’s holdings in Abbott Laboratories were worth $1,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABT. Principal Financial Group Inc. grew its holdings in Abbott Laboratories by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock worth $307,990,000 after acquiring an additional 211,233 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Abbott Laboratories by 18.9% during the 1st quarter. Summit Trail Advisors LLC now owns 18,403 shares of the healthcare product maker’s stock worth $769,000 after acquiring an additional 2,923 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in Abbott Laboratories by 3.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 563,273 shares of the healthcare product maker’s stock worth $34,354,000 after acquiring an additional 16,363 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in Abbott Laboratories by 0.3% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 263,225 shares of the healthcare product maker’s stock worth $16,054,000 after acquiring an additional 897 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in Abbott Laboratories by 5.2% during the 2nd quarter. DnB Asset Management AS now owns 210,576 shares of the healthcare product maker’s stock worth $12,843,000 after acquiring an additional 10,400 shares in the last quarter. 72.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on ABT shares. Cowen boosted their price target on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. Wells Fargo & Co boosted their price target on shares of Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $75.22.



Shares of Abbott Laboratories stock opened at $67.31 on Tuesday. Abbott Laboratories has a 12-month low of $53.61 and a 12-month high of $74.15. 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 firm has a market capitalization of $117.52 billion, a PE ratio of 26.92, a P/E/G ratio of 1.99 and a beta of 1.49.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The business had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s payout ratio is 44.80%.

In related news, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the completion of the sale, the insider now owns 35,576 shares in the company, valued at approximately $2,387,505.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the sale, the senior vice president now owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,297 shares of company stock valued at $9,403,743. Company insiders own 0.74% of the company’s stock.

Abbott Laboratories Company Profile

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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