Northwest Capital Management Inc acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,275 shares of the healthcare product maker’s stock, valued at approximately $387,000.
Other institutional investors have also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $103,000. Atlantic Trust LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $104,000. FNY Investment Advisers LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth $118,000. Fort L.P. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $119,000. Finally, Security National Bank of SO Dak grew its stake in Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after acquiring an additional 878 shares during the last quarter. Institutional investors own 72.30% of the company’s stock.
A number of equities research analysts recently commented on ABT shares. Cowen increased their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Wells Fargo & Co increased their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. One equities research 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 a consensus target price of $75.22.
In other Abbott Laboratories news, SVP Sharon J. Bracken sold 1,732 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the sale, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at approximately $2,877,447.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew H. Lane sold 9,097 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total transaction of $610,499.67. Following the sale, the insider now directly owns 35,576 shares in the company, valued at $2,387,505.36. The disclosure for this sale can be found here. Insiders have sold a total of 138,297 shares of company stock worth $9,403,743 over the last ninety days. 0.74% of the stock is owned by corporate insiders.
Shares of NYSE ABT opened at $70.15 on Friday. Abbott Laboratories has a 52 week low of $53.96 and a 52 week high of $74.15. The stock has a market capitalization of $119.29 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.58.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.60%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
About Abbott Laboratories
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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