Peoples Bank OH bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,974 shares of the healthcare product maker’s stock, valued at approximately $218,000.
Other hedge funds have also recently bought and sold shares of the company. Grassi Investment Management boosted its position in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock worth $9,086,000 after purchasing an additional 776 shares in the last quarter. City Holding Co. boosted its position in shares of Abbott Laboratories by 1.6% in the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after purchasing an additional 782 shares in the last quarter. Burns J W & Co. Inc. NY boosted its position in shares of Abbott Laboratories by 3.2% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after purchasing an additional 785 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Abbott Laboratories by 4.3% in the 3rd quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after purchasing an additional 791 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Abbott Laboratories by 7.3% in the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after purchasing an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.
A number of analysts have recently commented on ABT shares. Cowen boosted their price target on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research report on Friday, October 5th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Morgan Stanley upped their price objective on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Wells Fargo & Co upped their price objective on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $75.22.
ABT stock opened at $70.96 on Wednesday. The company has a market capitalization of $123.28 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.15.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. As a group, analysts forecast that Abbott Laboratories will post 2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be issued 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 1.58%. Abbott Laboratories’s payout ratio is 44.80%.
In other news, insider Jared Watkin sold 65,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the transaction, the insider now directly owns 128,640 shares of the company’s stock, valued at approximately $9,133,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sharon J. Bracken sold 1,732 shares of the stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the transaction, the senior vice president now directly owns 39,229 shares in the company, valued at $2,877,447.15. The disclosure for this sale can be found here. Insiders have sold a total of 203,297 shares of company stock worth $14,018,743 over the last three months. Insiders own 0.74% of the company’s stock.
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Abbott Laboratories 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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