Davidson & Garrard Inc. Boosts Position in Abbott Laboratories (ABT)

Davidson & Garrard Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,378 shares of the healthcare product maker’s stock after acquiring an additional 5,205 shares during the period. Davidson & Garrard Inc.’s holdings in Abbott Laboratories were worth $1,461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after acquiring an additional 3,241,063 shares in the last quarter. Capital Research Global Investors increased its position in Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after buying an additional 14,918,038 shares during the period. Northern Trust Corp increased its position in Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after buying an additional 809,732 shares during the period. Dimensional Fund Advisors LP increased its position in Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after buying an additional 2,606,404 shares during the period. Finally, Alliancebernstein L.P. increased its position in Abbott Laboratories by 7.7% in the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after buying an additional 830,610 shares during the period. 71.15% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the transaction, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the transaction, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. In the last three months, insiders sold 501,172 shares of company stock valued at $27,533,150. Company insiders own 0.76% of the company’s stock.

Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays increased their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus increased their target price on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.24.

Abbott Laboratories (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 stock has a market capitalization of $102,420.00, a price-to-earnings ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company 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 business posted $0.59 earnings per share. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts expect 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. Stockholders of record on Friday, January 12th will be paid a $0.28 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is presently 92.56%.

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

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