OPSEU Pension Plan Trust Fund boosted its position in Abbott Laboratories (NYSE:ABT) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,249 shares of the healthcare product maker’s stock after buying an additional 1,589 shares during the quarter. OPSEU Pension Plan Trust Fund’s holdings in Abbott Laboratories were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. BlackRock Inc. boosted its stake in Abbott Laboratories by 5.2% in the second quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after buying an additional 6,621,486 shares in the last quarter. Fisher Asset Management LLC lifted its position in Abbott Laboratories by 93.7% in the second quarter. Fisher Asset Management LLC now owns 6,904,344 shares of the healthcare product maker’s stock valued at $631,264,000 after purchasing an additional 3,340,466 shares during the last quarter. GQG Partners LLC lifted its position in Abbott Laboratories by 29.3% in the second quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock valued at $1,146,169,000 after purchasing an additional 2,841,074 shares during the last quarter. Morgan Stanley lifted its position in Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after purchasing an additional 2,578,161 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Abbott Laboratories by 89.2% in the third quarter. CIBC Private Wealth Group LLC now owns 3,936,633 shares of the healthcare product maker’s stock valued at $427,825,000 after purchasing an additional 1,855,718 shares during the last quarter. 73.09% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now directly owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert E. Funck sold 83,333 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the sale, the chief financial officer now directly owns 265,550 shares of the company’s stock, valued at $28,899,806.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,252 shares of company stock valued at $18,352,259. 1.70% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on ABT shares. Wolfe Research started coverage on Abbott Laboratories in a report on Friday, September 11th. They set an “outperform” rating and a $124.00 target price for the company. Credit Suisse Group decreased their target price on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. SVB Leerink boosted their price objective on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.29.
Shares of ABT traded up $0.39 during mid-day trading on Tuesday, hitting $114.06. 52,991 shares of the company traded hands, compared to its average volume of 7,007,914. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. The stock has a 50-day moving average price of $108.82 and a two-hundred day moving average price of $99.85. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $115.14. The stock has a market cap of $201.46 billion, a price-to-earnings ratio of 60.14, a P/E/G ratio of 2.55 and a beta of 0.90.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 3.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 16th. Shareholders of record on Thursday, October 15th were issued a dividend of $0.36 per share. The ex-dividend date was Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.26%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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; MÃ©niÃ¨re'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.
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