Marble Harbor Investment Counsel LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,967 shares of the healthcare product maker’s stock after buying an additional 980 shares during the period. Abbott Laboratories makes up approximately 2.8% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 8th largest position. Marble Harbor Investment Counsel LLC’s holdings in Abbott Laboratories were worth $13,498,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. Capital Research Global Investors increased its holdings in Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. Northern Trust Corp increased its holdings in Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after acquiring an additional 2,606,404 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Abbott Laboratories by 7.7% in the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after acquiring an additional 830,610 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
ABT has been the subject of several research reports. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target for the company. Royal Bank of Canada restated a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Finally, Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $60.24.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,172 shares of company stock valued at $27,533,150. Corporate insiders own 0.76% of the company’s stock.
Shares of Abbott Laboratories (NYSE:ABT) opened at $58.84 on Friday. The stock has a market cap of $102,416.96, a price-to-earnings ratio of 24.41, a PEG ratio of 1.87 and a beta of 1.06. Abbott Laboratories has a 1 year low of $39.25 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. research analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is 88.19%.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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