Woodley Farra Manion Portfolio Management Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 32.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 604,290 shares of the healthcare product maker’s stock after purchasing an additional 148,742 shares during the quarter. Abbott Laboratories accounts for 3.0% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 13th largest holding. Woodley Farra Manion Portfolio Management Inc.’s holdings in Abbott Laboratories were worth $59,722,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Abbott Laboratories by 4.6% during the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after buying an additional 6,769,518 shares during the last quarter. State Street Corp raised its holdings in shares of Abbott Laboratories by 1.7% in the 2nd quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after acquiring an additional 1,350,766 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $1,603,607,000. Deutsche Bank AG lifted its position in Abbott Laboratories by 18.6% in the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after acquiring an additional 2,614,965 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $1,082,524,000. 75.18% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ABT shares. Citigroup cut their price objective on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the company from $119.00 to $127.00 in a report on Friday, October 2nd. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 13th. BTIG Research cut their price target on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Finally, TD Cowen reduced their price objective on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $118.32.
View Our Latest Research Report on Abbott Laboratories
Insider Buying and Selling at Abbott Laboratories
In other news, EVP Mary Moreland sold 3,500 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.
Abbott Laboratories Trading Up 0.1%
Shares of ABT stock opened at $110.58 on Wednesday. The company’s fifty day simple moving average is $103.99 and its two-hundred day simple moving average is $101.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.00. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $132.02. The stock has a market capitalization of $191.53 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 1.94 and a beta of 0.54.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting the consensus estimate of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. As a group, analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.
Abbott Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.
About Abbott Laboratories
Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.
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