Papp L Roy & Associates Has $942,000 Stake in Abbott Laboratories (NYSE:ABT)

Papp L Roy & Associates trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,255 shares of the healthcare product maker’s stock after selling 150 shares during the period. Papp L Roy & Associates’ holdings in Abbott Laboratories were worth $942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in Abbott Laboratories by 3.8% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after purchasing an additional 116 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Abbott Laboratories by 4.1% in the second quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock worth $250,000 after acquiring an additional 118 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Abbott Laboratories by 2.3% in the second quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock worth $452,000 after acquiring an additional 122 shares during the last quarter. Appleton Partners Inc. MA raised its stake in shares of Abbott Laboratories by 0.5% in the third quarter. Appleton Partners Inc. MA now owns 24,589 shares of the healthcare product maker’s stock worth $2,057,000 after acquiring an additional 123 shares during the last quarter. Finally, M&R Capital Management Inc. raised its stake in shares of Abbott Laboratories by 0.5% in the second quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock worth $2,193,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 73.77% of the company’s stock.

A number of equities analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. BMO Capital Markets boosted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Credit Suisse Group boosted their target price on shares of Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Raymond James dropped their target price on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $87.61.

Shares of NYSE:ABT traded up $0.35 during trading on Friday, hitting $83.74. 3,388,511 shares of the company’s stock were exchanged, compared to its average volume of 5,339,424. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76. The firm has a 50-day moving average price of $82.03 and a two-hundred day moving average price of $82.26. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The firm has a market cap of $145.61 billion, a P/E ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the company earned $0.75 EPS. Abbott Laboratories’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 3.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is 44.44%.

In other news, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the completion of the sale, the senior vice president now owns 68,562 shares in the company, valued at approximately $5,521,983.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. 0.70% of the stock is owned by 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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Read More: Are we seeing the beginning of a new bubble?

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.