Optas LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Optas LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,330 shares of the healthcare product maker’s stock, valued at approximately $472,000.

A number of other institutional investors have also added to or reduced their stakes in ABT. BlackRock Inc. grew its position in shares of Abbott Laboratories by 5.2% in the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock valued at $12,319,776,000 after buying an additional 6,621,486 shares during the last quarter. State Street Corp grew its position in shares of Abbott Laboratories by 0.7% in the 1st quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after buying an additional 528,871 shares during the last quarter. Morgan Stanley grew its position in shares of Abbott Laboratories by 11.3% in the 1st quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after buying an additional 2,578,161 shares during the last quarter. GQG Partners LLC grew its position in shares of Abbott Laboratories by 29.3% in the 2nd quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock valued at $1,146,169,000 after buying an additional 2,841,074 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Abbott Laboratories by 3.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 10,100,593 shares of the healthcare product maker’s stock valued at $923,496,000 after buying an additional 359,477 shares during the last quarter. Institutional investors own 73.09% of the company’s stock.

Shares of NYSE ABT traded up $0.90 during midday trading on Monday, hitting $108.69. The company had a trading volume of 38,727 shares, compared to its average volume of 7,082,496. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $114.19. The business has a 50-day simple moving average of $106.42 and a two-hundred day simple moving average of $97.48. The firm has a market capitalization of $190.85 billion, a price-to-earnings ratio of 57.03, a price-to-earnings-growth ratio of 2.88 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.30%. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post 3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

In other Abbott Laboratories news, SVP Randel William Woodgrift sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $105.28, for a total transaction of $263,200.00. Following the completion of the transaction, the senior vice president now directly owns 46,267 shares in the company, valued at approximately $4,870,989.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The disclosure for this sale can be found here. Insiders sold 84,919 shares of company stock valued at $9,283,128 in the last quarter. Company insiders own 1.70% of the company’s stock.

A number of research analysts recently commented on ABT shares. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, August 27th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Monday, October 12th. Goldman Sachs Group set a $94.00 price objective on shares of Abbott Laboratories and gave the stock a “sell” rating in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $115.18.

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; 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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