Tiaa Fsb Buys 28,662 Shares of Abbott Laboratories (NYSE:ABT)

Tiaa Fsb boosted its holdings in Abbott Laboratories (NYSE:ABT) by 10.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 312,824 shares of the healthcare product maker’s stock after buying an additional 28,662 shares during the period. Tiaa Fsb’s holdings in Abbott Laboratories were worth $36,954,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Main Street Financial Solutions LLC lifted its position in Abbott Laboratories by 1.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,490 shares of the healthcare product maker’s stock valued at $752,000 after acquiring an additional 83 shares in the last quarter. Glassman Wealth Services increased its stake in Abbott Laboratories by 6.2% in the 2nd quarter. Glassman Wealth Services now owns 1,479 shares of the healthcare product maker’s stock worth $171,000 after buying an additional 86 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its stake in Abbott Laboratories by 3.7% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 2,438 shares of the healthcare product maker’s stock worth $288,000 after buying an additional 86 shares in the last quarter. 44 Wealth Management LLC increased its stake in Abbott Laboratories by 4.5% in the 2nd quarter. 44 Wealth Management LLC now owns 2,042 shares of the healthcare product maker’s stock worth $237,000 after buying an additional 87 shares in the last quarter. Finally, Intrust Bank NA increased its stake in Abbott Laboratories by 0.4% in the 2nd quarter. Intrust Bank NA now owns 25,447 shares of the healthcare product maker’s stock worth $2,950,000 after buying an additional 89 shares in the last quarter. 72.46% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on ABT shares. Redburn Partners started coverage on Abbott Laboratories in a research note on Thursday, October 14th. They issued a “neutral” rating and a $132.28 price target for the company. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $136.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 21st. Citigroup increased their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, October 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target for the company in a report on Tuesday, August 3rd. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $140.00 price target (up previously from $128.00) on shares of Abbott Laboratories in a report on Thursday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $134.94.

In related news, VP Philip P. Boudreau sold 8,000 shares of Abbott Laboratories stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $126.49, for a total transaction of $1,011,920.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew H. Lane sold 135,925 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $125.47, for a total transaction of $17,054,509.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,783 shares of company stock worth $23,066,012. Corporate insiders own 1.50% of the company’s stock.

Shares of NYSE:ABT traded up $0.59 during trading on Thursday, reaching $125.07. 3,729,581 shares of the company were exchanged, compared to its average volume of 5,348,268. The firm has a market capitalization of $221.16 billion, a PE ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.68. The business’s fifty day simple moving average is $123.74 and its 200-day simple moving average is $120.66. Abbott Laboratories has a 12-month low of $105.32 and a 12-month high of $131.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.83 and a quick ratio of 1.42.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Tuesday, October 19th. The healthcare product maker reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.46. The business had revenue of $10.93 billion for the quarter, compared to analyst estimates of $9.56 billion. Abbott Laboratories had a net margin of 17.12% and a return on equity of 28.39%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Friday, October 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.67%.

Abbott Laboratories Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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