Moors & Cabot Inc. Buys 3,675 Shares of Abbott Laboratories (NYSE:ABT)

Moors & Cabot Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,686 shares of the healthcare product maker’s stock after buying an additional 3,675 shares during the quarter. Moors & Cabot Inc.’s holdings in Abbott Laboratories were worth $4,994,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Cumberland Partners Ltd lifted its position in shares of Abbott Laboratories by 25.0% during the 2nd quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock valued at $378,000 after buying an additional 900 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Abbott Laboratories by 91.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock worth $122,138,000 after acquiring an additional 694,262 shares during the last quarter. Cypress Capital Management LLC increased its stake in Abbott Laboratories by 2.0% in the 2nd quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock worth $17,108,000 after acquiring an additional 4,000 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Abbott Laboratories by 3.8% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after acquiring an additional 116 shares during the last quarter. Finally, Cresset Asset Management LLC increased its stake in Abbott Laboratories by 20.7% in the 2nd quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock worth $2,455,000 after acquiring an additional 5,012 shares during the last quarter. Institutional investors and hedge funds own 73.78% of the company’s stock.

In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the completion of the sale, the chief financial officer now owns 125,781 shares in the company, valued at approximately $10,788,236.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Randel William Woodgrift sold 65,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total value of $5,720,650.00. Following the completion of the sale, the insider now owns 117,562 shares of the company’s stock, valued at approximately $10,346,631.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,497 shares of company stock valued at $15,701,810. Company insiders own 0.70% of the company’s stock.

ABT traded down $0.19 on Tuesday, hitting $81.46. 217,638 shares of the company were exchanged, compared to its average volume of 4,617,301. The firm has a fifty day simple moving average of $82.72 and a two-hundred day simple moving average of $81.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76. The stock has a market capitalization of $146.32 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the company earned $0.75 EPS. Abbott Laboratories’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 3.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

ABT has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Raymond James reduced their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Cowen increased their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a research report on Thursday, October 17th. Finally, Credit Suisse Group increased their price objective on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $87.61.

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 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.

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

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