Montag A & Associates Inc. Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Montag A & Associates Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 16.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,252 shares of the healthcare product maker’s stock after purchasing an additional 18,040 shares during the quarter. Abbott Laboratories accounts for 0.9% of Montag A & Associates Inc.’s investment portfolio, making the stock its 29th biggest holding. Montag A & Associates Inc.’s holdings in Abbott Laboratories were worth $10,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $33,000. 1 North Wealth Services LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $38,000. Marquette Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 173.4% in the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after buying an additional 300 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $41,000. Institutional investors own 73.77% of the company’s stock.

In other news, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now directly owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Several analysts have recently commented on the company. BMO Capital Markets raised their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. William Blair reissued an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Raymond James reduced their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. 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. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $87.61.

ABT stock traded up $0.35 during midday trading on Friday, hitting $83.74. 3,462,833 shares of the stock were exchanged, compared to its average volume of 5,339,424. The stock’s 50-day moving average price is $82.03 and its 200-day moving average price is $82.21. The stock has a market cap of $145.61 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. Abbott Laboratories has a fifty-two week low of $65.44 and a fifty-two week high of $88.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. Abbott Laboratories’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. Research analysts anticipate that Abbott Laboratories will post 3.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.53%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

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 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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