Abbott Laboratories (NYSE:ABT) Holdings Lifted by Bollard Group LLC

Bollard Group LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,544 shares of the healthcare product maker’s stock after acquiring an additional 2,852 shares during the period. Bollard Group LLC’s holdings in Abbott Laboratories were worth $6,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Mosaic Family Wealth LLC boosted its stake in shares of Abbott Laboratories by 25.2% during the 3rd quarter. Mosaic Family Wealth LLC now owns 16,205 shares of the healthcare product maker’s stock worth $865,000 after purchasing an additional 3,261 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Abbott Laboratories during the 3rd quarter worth about $20,883,000. Callahan Advisors LLC boosted its stake in shares of Abbott Laboratories by 7.4% during the 3rd quarter. Callahan Advisors LLC now owns 100,946 shares of the healthcare product maker’s stock worth $5,386,000 after purchasing an additional 6,961 shares during the period. Somerville Kurt F boosted its stake in shares of Abbott Laboratories by 0.9% during the 3rd quarter. Somerville Kurt F now owns 245,885 shares of the healthcare product maker’s stock worth $13,122,000 after purchasing an additional 2,235 shares during the period. Finally, Puzo Michael J boosted its stake in shares of Abbott Laboratories by 1.6% during the 3rd quarter. Puzo Michael J now owns 80,751 shares of the healthcare product maker’s stock worth $4,310,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 71.15% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) opened at $58.84 on Friday. Abbott Laboratories has a 52-week low of $39.25 and a 52-week high of $59.60. The firm has a market cap of $102,420.00, a P/E ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The company’s revenue was up 28.8% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is presently 87.60%.

A number of research firms recently commented on ABT. Royal Bank of Canada reaffirmed a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research note on Tuesday. Barclays reaffirmed a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research note on Monday, January 8th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Evercore ISI began coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $60.24.

In related news, insider Sharon J. Bracken sold 2,188 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the transaction, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the transaction, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold a total of 501,172 shares of company stock valued at $27,533,150 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.

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About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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