Financial Engines Advisors L.L.C. Raises Position in Abbott Laboratories (ABT)

Financial Engines Advisors L.L.C. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,272 shares of the healthcare product maker’s stock after acquiring an additional 13,210 shares during the period. Abbott Laboratories accounts for about 0.3% of Financial Engines Advisors L.L.C.’s investment portfolio, making the stock its 19th largest position. Financial Engines Advisors L.L.C.’s holdings in Abbott Laboratories were worth $8,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sanders Morris Harris LLC grew its stake in Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 16 shares during the last quarter. St. Louis Trust Co boosted its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares during the last quarter. Lakeview Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 33 shares during the last quarter. Johanson Financial Advisors Inc. boosted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares during the last quarter. Finally, Country Club Trust Company n.a. boosted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 38 shares during the last quarter. 71.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman Miles D. White sold 276,886 shares of the stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction dated 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 in the company, valued at $572,900.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,172 shares of company stock worth $27,533,150. Insiders own 0.76% of the company’s stock.

Abbott Laboratories (ABT) opened at $58.84 on Friday. The firm has a market cap of $102,416.96, a PE ratio of 24.41, a PEG ratio of 1.87 and a beta of 1.06. Abbott Laboratories has a 1-year low of $39.25 and a 1-year 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.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is presently 88.19%.

Several research firms have issued reports on ABT. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays raised their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Bank of America reaffirmed a “buy” rating and set a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Abbott Laboratories currently has a consensus 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.

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

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