Bartlett & Co. LLC Raises Stake in Abbott Laboratories (NYSE:ABT)

Bartlett & Co. LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 32.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,047,520 shares of the healthcare product maker’s stock after purchasing an additional 259,093 shares during the period. Abbott Laboratories comprises approximately 2.3% of Bartlett & Co. LLC’s holdings, making the stock its 6th biggest position. Bartlett & Co. LLC owned approximately 0.06% of Abbott Laboratories worth $87,646,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Bath Savings Trust Co lifted its stake in Abbott Laboratories by 2.7% in the 2nd quarter. Bath Savings Trust Co now owns 52,679 shares of the healthcare product maker’s stock valued at $4,430,000 after purchasing an additional 1,375 shares during the last quarter. Cox Capital Mgt LLC lifted its stake in Abbott Laboratories by 5.0% in the 2nd quarter. Cox Capital Mgt LLC now owns 20,915 shares of the healthcare product maker’s stock valued at $1,759,000 after purchasing an additional 1,002 shares during the last quarter. Thomasville National Bank lifted its stake in Abbott Laboratories by 1.6% in the 2nd quarter. Thomasville National Bank now owns 28,673 shares of the healthcare product maker’s stock valued at $2,411,000 after purchasing an additional 455 shares during the last quarter. Private Trust Co. NA lifted its stake in Abbott Laboratories by 7.0% in the 2nd quarter. Private Trust Co. NA now owns 36,943 shares of the healthcare product maker’s stock valued at $3,106,000 after purchasing an additional 2,411 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its stake in Abbott Laboratories by 1.2% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 31,146 shares of the healthcare product maker’s stock valued at $2,619,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.

In other news, SVP Randel William Woodgrift sold 21,000 shares of the stock in a transaction 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 directly owns 68,562 shares in the company, valued at $5,521,983.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the sale, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. Insiders have sold 91,234 shares of company stock valued at $7,699,823 in the last ninety days. Insiders own 0.70% of the company’s stock.

ABT stock opened at $83.12 on Thursday. The company has a fifty day moving average price of $82.04 and a 200-day moving average price of $82.17. The company has a market capitalization of $146.18 billion, a P/E ratio of 28.86, a PEG ratio of 2.39 and a beta of 1.13. Abbott Laboratories has a 52-week low of $65.44 and a 52-week high of $88.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 3.25 earnings per share for the current fiscal 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 paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s payout ratio is currently 44.44%.

ABT has been the subject of several research reports. Credit Suisse Group increased their price objective on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Cowen increased their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. William Blair reissued an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Finally, BMO Capital Markets increased their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $87.61.

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

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