Mosaic Family Wealth LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 25.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,205 shares of the healthcare product maker’s stock after acquiring an additional 3,261 shares during the quarter. Mosaic Family Wealth LLC’s holdings in Abbott Laboratories were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Villere ST Denis J & Co. LLC boosted its holdings in Abbott Laboratories by 2.3% in the second quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after purchasing an additional 5,950 shares in the last quarter. Gratus Capital LLC boosted its holdings in Abbott Laboratories by 0.9% in the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after purchasing an additional 1,869 shares in the last quarter. Comerica Securities Inc. bought a new stake in Abbott Laboratories in the first quarter worth $2,833,000. AQR Capital Management LLC boosted its holdings in Abbott Laboratories by 264.8% in the first quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after purchasing an additional 460,477 shares in the last quarter. Finally, Century Capital Management LLC bought a new stake in Abbott Laboratories in the first quarter worth $4,332,000. 71.15% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE ABT) opened at $58.95 on Friday. Abbott Laboratories has a 52-week low of $39.25 and a 52-week high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $102,610.00, a price-to-earnings ratio of 48.72, a PEG ratio of 1.88 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is presently 87.60%.
A number of equities research analysts recently issued reports on ABT shares. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Barclays upped their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a research report on Monday, October 2nd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $60.24.
In related news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders sold a total of 501,172 shares of company stock worth $27,533,150 over the last quarter. Company insiders own 0.76% of the company’s stock.
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Abbott Laboratories Company 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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