Gillespie Robinson & Grimm Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,340 shares of the healthcare product maker’s stock after purchasing an additional 17,286 shares during the period. Abbott Laboratories accounts for 2.0% of Gillespie Robinson & Grimm Inc.’s holdings, making the stock its 26th biggest holding. Gillespie Robinson & Grimm Inc.’s holdings in Abbott Laboratories were worth $16,846,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Manchester Financial Inc. bought a new stake in Abbott Laboratories during the 2nd quarter valued at $30,000. Front Row Advisors LLC increased its position in shares of Abbott Laboratories by 790.9% during the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after acquiring an additional 348 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Abbott Laboratories during the first quarter worth about $33,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories during the second quarter worth about $33,000. Finally, Pearl River Capital LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth about $41,000. 73.71% of the stock is owned by institutional investors and hedge funds.
ABT traded up $0.67 during trading on Thursday, hitting $80.17. 159,303 shares of the company traded hands, compared to its average volume of 4,002,620. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76. The stock’s fifty day moving average is $83.30 and its 200 day moving average is $81.65. The firm has a market cap of $143.23 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. During the same period in the prior year, the firm earned $0.73 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Jefferies Financial Group upped their price target on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Bank of America reiterated a “buy” rating and issued a $81.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 13th. Finally, Raymond James upped their target price on shares of Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.74.
In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the transaction, the director now owns 26,266 shares in the company, valued at $2,302,214.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,497 shares of company stock valued at $15,701,810. 0.70% of the stock is owned by corporate insiders.
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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