Quadrant Capital Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,392 shares of the healthcare product maker’s stock after buying an additional 5,705 shares during the period. Quadrant Capital Group LLC’s holdings in Abbott Laboratories were worth $4,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in shares of Abbott Laboratories by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock worth $8,339,000 after acquiring an additional 10,431 shares during the period. Juncture Wealth Strategies LLC purchased a new stake in Abbott Laboratories during the third quarter valued at $658,000. Aureus Asset Management LLC lifted its holdings in Abbott Laboratories by 25.0% in the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock valued at $34,078,000 after acquiring an additional 66,422 shares during the period. Thompson Investment Management Inc. lifted its holdings in Abbott Laboratories by 786.0% in the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock valued at $1,276,000 after acquiring an additional 12,474 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new position in Abbott Laboratories in the second quarter valued at about $4,889,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Price Performance
NYSE ABT opened at $102.68 on Wednesday. The company has a market capitalization of $177.67 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.93 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The business’s fifty day moving average is $105.68 and its 200 day moving average is $98.30. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $132.02.
Abbott Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.5%. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on ABT shares. Citigroup boosted their price target on Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. JPMorgan Chase & Co. raised their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, BTIG Research raised their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.
Check Out Our Latest Report on Abbott Laboratories
Abbott Laboratories News Summary
Here are the key news stories impacting Abbott Laboratories this week:
- Positive Sentiment: Abbott received the European CE Mark under the EU In Vitro Diagnostic Regulation for Cologuard Plus, its noninvasive, stool-based colorectal cancer screening test. The authorization allows commercialization in select European markets and expands Abbott’s diagnostics portfolio and potential customer base. Abbott Laboratories (ABT) Secures Europe CE Mark For Colorectal Cancer Test
- Positive Sentiment: Reports that President Trump and prominent investors, including billionaire fund managers, bought Abbott stock may provide a modest sentiment boost, although these purchases do not change the company’s fundamentals. Billionaires and Trump Were Buying This Healthcare Stock
Abbott Laboratories Company Profile
Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.
Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.
The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.
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