Hartford Investment Management Co. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,399 shares of the healthcare product maker’s stock after selling 18,942 shares during the period. Hartford Investment Management Co.’s holdings in Abbott Laboratories were worth $18,859,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABT. Nuveen Asset Management LLC increased its holdings in shares of Abbott Laboratories by 7,888.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after purchasing an additional 12,222,999 shares during the period. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after purchasing an additional 2,262,152 shares during the period. BlackRock Inc. grew its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after buying an additional 2,199,601 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $158,475,000. Finally, Thoroughbred Financial Services LLC grew its stake in shares of Abbott Laboratories by 8,669.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock valued at $140,128,000 after buying an additional 1,385,303 shares in the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.
Several equities research analysts recently commented on ABT shares. Morgan Stanley boosted their price target on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets boosted their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Credit Suisse Group boosted their price target on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research note on Wednesday, August 21st. Finally, ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $87.61.
In related news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the transaction, the senior vice president now owns 68,562 shares in the company, valued at $5,521,983.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the transaction, the director now owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,497 shares of company stock worth $11,672,500. 0.70% of the stock is owned by company insiders.
Abbott Laboratories stock traded up $1.01 during trading hours on Monday, reaching $82.66. 4,291,507 shares of the company were exchanged, compared to its average volume of 4,921,954. The firm has a market cap of $143.80 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.35 and a beta of 1.13. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $82.47 and a 200 day moving average of $81.85. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76.
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 analysts’ consensus estimates of $0.84. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, research analysts forecast that Abbott Laboratories will post 3.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is 44.44%.
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.
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