LMR Partners LLP raised its position in Abbott Laboratories (NYSE:ABT) by 63.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,443 shares of the healthcare product maker’s stock after acquiring an additional 5,593 shares during the period. LMR Partners LLP’s holdings in Abbott Laboratories were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $106,000. Heritage Trust Co raised its holdings in shares of Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Winfield Associates Inc. raised its holdings in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after purchasing an additional 370 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the last quarter. Institutional investors own 71.22% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.90 during midday trading on Friday, hitting $57.17. 7,984,128 shares of the stock traded hands, compared to its average volume of 7,750,000. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The firm has a market capitalization of $99,510.00, a price-to-earnings ratio of 285.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. equities analysts expect that Abbott Laboratories will post 2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s payout ratio is presently 560.00%.
Several research analysts recently issued reports on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Monday, October 16th. Jefferies Group reissued a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Thursday, October 19th. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Cowen set a $68.00 price objective on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $65.47.
In other Abbott Laboratories news, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the transaction, the insider now directly owns 146,387 shares in the company, valued at approximately $8,131,797.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the transaction, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The disclosure for this sale can be found here. Insiders have sold 445,615 shares of company stock worth $24,666,341 over the last 90 days. 0.76% of the stock is currently owned by company insiders.
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Abbott Laboratories Profile
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.
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