Keybank National Association OH grew its holdings in Abbott Laboratories (NYSE:ABT) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,241,241 shares of the healthcare product maker’s stock after purchasing an additional 28,662 shares during the period. Keybank National Association OH owned approximately 0.07% of Abbott Laboratories worth $66,233,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in ABT. Daiwa Securities Group Inc. boosted its position in shares of Abbott Laboratories by 187.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 158,878 shares of the healthcare product maker’s stock valued at $8,478,000 after purchasing an additional 103,637 shares during the period. Smith Moore & CO. boosted its position in shares of Abbott Laboratories by 18.2% in the 3rd quarter. Smith Moore & CO. now owns 34,913 shares of the healthcare product maker’s stock valued at $1,863,000 after purchasing an additional 5,378 shares during the period. Bristol Advisors LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $272,000. USA Financial Portformulas Corp lifted its position in Abbott Laboratories by 917.0% during the 3rd quarter. USA Financial Portformulas Corp now owns 61,988 shares of the healthcare product maker’s stock worth $3,308,000 after acquiring an additional 55,893 shares during the period. Finally, Rockland Trust Co. lifted its position in Abbott Laboratories by 1.6% during the 3rd quarter. Rockland Trust Co. now owns 79,256 shares of the healthcare product maker’s stock worth $4,229,000 after acquiring an additional 1,255 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on ABT shares. Wells Fargo & Co increased their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. William Blair raised Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, Jefferies Group reissued a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $64.06.
Shares of Abbott Laboratories (NYSE ABT) traded up $0.20 during trading hours on Friday, reaching $63.42. 10,240,000 shares of the company were exchanged, compared to its average volume of 7,210,000. The company has a market capitalization of $110,390.00, a PE ratio of 317.10, a PEG ratio of 2.00 and a beta of 1.55. Abbott Laboratories has a 12-month low of $40.60 and a 12-month high of $64.60. 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 (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. equities analysts anticipate that Abbott Laboratories will post 2.85 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 given a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is currently 560.00%.
In related 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 value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction 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. Insiders have sold 404,569 shares of company stock valued at $22,103,095 in the last ninety days. 0.76% of the stock is owned by company insiders.
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About Abbott Laboratories
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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