Baxter Bros Inc. boosted its position in Abbott Laboratories (NYSE:ABT) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,961 shares of the healthcare product maker’s stock after acquiring an additional 400 shares during the period. Baxter Bros Inc.’s holdings in Abbott Laboratories were worth $415,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its position in Abbott Laboratories by 7,888.6% in the second quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after purchasing an additional 12,222,999 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 1.5% during the second quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after acquiring an additional 2,262,152 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 1.8% during the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after acquiring an additional 2,199,601 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $158,475,000. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Abbott Laboratories by 8,669.5% during the second quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock valued at $140,128,000 after acquiring an additional 1,385,303 shares in the last quarter. Institutional investors and hedge funds own 73.78% of the company’s stock.
A number of equities analysts recently commented on ABT shares. Raymond James decreased their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Morgan Stanley upped their target price on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Cowen upped their target price on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. William Blair restated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday. Finally, ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $87.61.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Research analysts predict that Abbott Laboratories will post 3.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s payout ratio is 44.44%.
In other news, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the completion of the transaction, the senior vice president now owns 104,228 shares of the company’s stock, valued at $9,004,256.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. Insiders have sold a total of 181,497 shares of company stock valued at $15,701,810 over the last ninety days. 0.70% of the stock is owned by insiders.
Abbott Laboratories 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 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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