Bellevue Group AG boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 34.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 766,710 shares of the healthcare product maker’s stock after acquiring an additional 197,860 shares during the quarter. Abbott Laboratories accounts for about 3.6% of Bellevue Group AG’s portfolio, making the stock its 3rd largest position. Bellevue Group AG’s holdings in Abbott Laboratories were worth $56,246,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $103,000. Atlantic Trust LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $104,000. Fort L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $119,000. Security National Bank of SO Dak boosted its stake in shares of 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 purchasing an additional 878 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV boosted its stake in shares of Abbott Laboratories by 1,069.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 4,000 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories stock opened at $71.50 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.92. The firm has a market cap of $130.06 billion, a P/E ratio of 28.60, a P/E/G ratio of 2.21 and a beta of 1.40.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the company earned $0.66 EPS. Abbott Laboratories’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Abbott Laboratories will post 2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a dividend of $0.28 per share. The ex-dividend date was Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.57%. Abbott Laboratories’s payout ratio is presently 44.80%.
In related news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the transaction, the insider now owns 93,321 shares in the company, valued at approximately $6,848,828.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sharon J. Bracken sold 1,732 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares in the company, valued at approximately $2,877,447.15. The disclosure for this sale can be found here. Insiders have sold a total of 272,273 shares of company stock worth $19,410,942 in the last quarter. 0.74% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on ABT shares. Cowen upped 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 lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Goldman Sachs Group raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their price objective for the company from $78.00 to $81.00 in a research note on Friday, November 30th. Morgan Stanley upped 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. Finally, Barclays started coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $76.00.
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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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