Spearhead Capital Advisors LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,078 shares of the healthcare product maker’s stock, valued at approximately $3,935,000. Abbott Laboratories makes up about 1.3% of Spearhead Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding.
Other large investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its position in Abbott Laboratories by 8.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after purchasing an additional 1,762 shares during the last quarter. HRT Financial LLC bought a new position in Abbott Laboratories in the second quarter valued at about $206,000. American Century Companies Inc. raised its position in Abbott Laboratories by 417.9% in the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. Baird Financial Group Inc. raised its position in Abbott Laboratories by 0.8% in the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after purchasing an additional 9,229 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new position in Abbott Laboratories in the second quarter valued at about $1,793,000. 72.16% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Royal Bank of Canada increased their target price on Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Wells Fargo & Co increased their target price on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Raymond James increased their target price on Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $73.72.
Shares of ABT opened at $69.33 on Friday. Abbott Laboratories has a 1 year low of $53.61 and a 1 year high of $74.15. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The stock has a market cap of $128.70 billion, a PE ratio of 27.73, a P/E/G ratio of 2.05 and a beta of 1.49.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.62%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.
In other Abbott Laboratories news, EVP Brian J. Blaser sold 15,100 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total value of $965,796.00. Following the completion of the sale, the executive vice president now directly owns 151,718 shares in the company, valued at $9,703,883.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sharon J. Bracken sold 615 shares of Abbott Laboratories stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $65.16, for a total value of $40,073.40. Following the completion of the sale, the insider now owns 40,761 shares of the company’s stock, valued at $2,655,986.76. The disclosure for this sale can be found here. Insiders have sold 155,321 shares of company stock valued at $10,492,583 over the last 90 days. 0.74% of the stock is owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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