Perigon Wealth Management LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 16.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,256 shares of the healthcare product maker’s stock after purchasing an additional 1,850 shares during the period. Perigon Wealth Management LLC’s holdings in Abbott Laboratories were worth $972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of ABT. Bank of New York Mellon Corp grew its stake in Abbott Laboratories by 102,159.4% in the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after purchasing an additional 27,208,125 shares during the last quarter. Morgan Stanley grew its stake in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after purchasing an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Abbott Laboratories in the second quarter valued at about $275,697,000. American Century Companies Inc. grew its stake in Abbott Laboratories by 417.9% in the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Abbott Laboratories by 3.7% in the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after purchasing an additional 4,153,157 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.
ABT has been the topic of a number of research analyst reports. Cowen boosted their price target on Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research note on Friday, October 5th. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 18th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, September 18th. UBS Group initiated coverage on Abbott Laboratories in a research note on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target on the stock. Finally, Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $81.00 in a research note on Friday, November 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $76.00.
In related news, insider Brian J. Blaser sold 58,200 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $68.79, for a total value of $4,003,578.00. Following the sale, the insider now owns 184,918 shares in the company, valued at $12,720,509.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $73.39, for a total value of $366,950.00. Following the completion of the sale, the insider now owns 93,321 shares in the company, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,273 shares of company stock worth $19,410,942. 0.74% of the stock is owned by insiders.
Shares of ABT stock opened at $69.95 on Friday. The stock has a market cap of $125.65 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.40. Abbott Laboratories has a fifty-two week low of $54.33 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. Abbott Laboratories’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 2.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a $0.28 dividend. The ex-dividend date was Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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