Strategic Blueprint LLC Raises Stock Position in Abbott Laboratories (NYSE:ABT)

Strategic Blueprint LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 38.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,975 shares of the healthcare product maker’s stock after purchasing an additional 13,298 shares during the period. Abbott Laboratories makes up 1.6% of Strategic Blueprint LLC’s holdings, making the stock its 15th biggest position. Strategic Blueprint LLC’s holdings in Abbott Laboratories were worth $5,221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JustInvest LLC increased its stake in Abbott Laboratories by 44.0% during the 2nd quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock worth $1,159,000 after buying an additional 3,873 shares in the last quarter. Rhenman & Partners Asset Management AB raised its stake in Abbott Laboratories by 10.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 205,000 shares of the healthcare product maker’s stock valued at $22,310,000 after purchasing an additional 20,000 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its holdings in Abbott Laboratories by 2.4% in the 3rd quarter. Hubbell Strickland Wealth Management LLC now owns 8,777 shares of the healthcare product maker’s stock valued at $955,000 after purchasing an additional 209 shares in the last quarter. Callahan Advisors LLC boosted its stake in Abbott Laboratories by 0.7% during the 2nd quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock worth $9,760,000 after purchasing an additional 724 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $203,000. 73.09% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ABT opened at $105.00 on Friday. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $114.19. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $185.91 billion, a price-to-earnings ratio of 55.56, a PEG ratio of 2.46 and a beta of 0.92. The firm has a 50-day moving average of $106.86 and a two-hundred day moving average of $98.24.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the company earned $0.84 EPS. Abbott Laboratories’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Several research firms have recently weighed in on ABT. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. Bank of America raised their price target on shares of Abbott Laboratories from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Credit Suisse Group lowered their price target on shares of Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Citigroup boosted their target price on shares of Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, SVB Leerink boosted their target price on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $115.29.

In other Abbott Laboratories news, CFO Robert E. Funck sold 83,333 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 265,550 shares of the company’s stock, valued at $28,899,806.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the company’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 sale, the executive vice president now directly 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 have sold 168,252 shares of company stock valued at $18,352,259 over the last ninety days. Insiders own 1.70% of the company’s stock.

Abbott Laboratories 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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