Richard Bernstein Advisors LLC Invests $5.37 Million in Abbott Laboratories (ABT) Stock

Richard Bernstein Advisors LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 73,141 shares of the healthcare product maker’s stock, valued at approximately $5,366,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Acadian Asset Management LLC boosted its stake in Abbott Laboratories by 166.4% in the second quarter. Acadian Asset Management LLC now owns 17,939 shares of the healthcare product maker’s stock valued at $1,095,000 after acquiring an additional 11,206 shares in the last quarter. UMB Bank N A MO boosted its stake in Abbott Laboratories by 1.7% in the second quarter. UMB Bank N A MO now owns 248,534 shares of the healthcare product maker’s stock valued at $15,158,000 after acquiring an additional 4,150 shares in the last quarter. Burleson & Company LLC boosted its stake in Abbott Laboratories by 6.1% in the second quarter. Burleson & Company LLC now owns 17,349 shares of the healthcare product maker’s stock valued at $1,058,000 after acquiring an additional 1,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Abbott Laboratories by 7.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,491,420 shares of the healthcare product maker’s stock valued at $334,922,000 after acquiring an additional 388,546 shares in the last quarter. Finally, Exencial Wealth Advisors LLC boosted its stake in Abbott Laboratories by 5.8% in the second quarter. Exencial Wealth Advisors LLC now owns 50,546 shares of the healthcare product maker’s stock valued at $3,083,000 after acquiring an additional 2,790 shares in the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on ABT. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. UBS Group began coverage on shares of Abbott Laboratories in a research note on Tuesday, November 27th. They issued a “buy” rating and a $83.00 price objective for the company. Raymond James upped their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Goldman Sachs Group upgraded 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $76.00.

In related news, insider Brian J. Blaser sold 58,200 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $68.79, for a total transaction of $4,003,578.00. Following the completion of the transaction, the insider now directly owns 184,918 shares of the company’s stock, valued at $12,720,509.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sharon J. Bracken sold 1,732 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Insiders have sold 272,273 shares of company stock valued at $19,410,942 in the last quarter. Insiders own 0.74% of the company’s stock.

Shares of ABT opened at $71.54 on Friday. Abbott Laboratories has a fifty-two week low of $54.33 and a fifty-two week high of $74.92. The stock has a market cap of $125.58 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 2.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.57%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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