Bristol Advisors LLC Acquires New Position in Abbott Laboratories (ABT)

Bristol Advisors LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,100 shares of the healthcare product maker’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Heritage Trust Co grew its position in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $106,000. Winfield Associates Inc. grew its position in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after acquiring an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after acquiring an additional 2,094 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.

In other Abbott Laboratories news, 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 owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the sale, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last ninety days. 0.76% of the stock is owned by company insiders.

Shares of Abbott Laboratories (NYSE ABT) opened at $58.82 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $102,556.20, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. Abbott Laboratories has a 12 month low of $38.98 and a 12 month high of $59.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. equities research analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.90%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is presently 83.47%.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Evercore ISI began coverage on Abbott Laboratories in a report on Wednesday. They issued an “outperform” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a report on Tuesday. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Tuesday. Finally, BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.59.

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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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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