Oregon Public Employees Retirement Fund grew its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,801 shares of the healthcare product maker’s stock after buying an additional 5,195 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Abbott Laboratories were worth $9,861,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of ABT. Heritage Trust Co lifted its holdings in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares during the last quarter. Tributary Capital Management LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at about $106,000. Winfield Associates Inc. lifted its holdings in Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares in the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE ABT) opened at $58.84 on Friday. 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 has a 12-month low of $39.25 and a 12-month high of $59.60. The stock 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.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (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 firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is currently 92.56%.
In other Abbott Laboratories news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the sale, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the sale, the insider now owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,172 shares of company stock worth $27,533,150. 0.76% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a report on Tuesday. Barclays reiterated a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a report on Monday, January 8th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Evercore ISI started coverage on shares of Abbott Laboratories in a report on Wednesday, January 3rd. They set 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 target price on the stock in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $60.24.
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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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