MCF Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 33.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,972 shares of the healthcare product maker’s stock after buying an additional 1,000 shares during the period. MCF Advisors LLC’s holdings in Abbott Laboratories were worth $332,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC increased its holdings in Abbott Laboratories by 7,888.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after purchasing an additional 12,222,999 shares in the last quarter. Vanguard Group Inc. increased its holdings in Abbott Laboratories by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after purchasing an additional 2,262,152 shares in the last quarter. BlackRock Inc. increased its holdings in Abbott Laboratories by 1.8% during the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after purchasing an additional 2,199,601 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $158,475,000. Finally, Thoroughbred Financial Services LLC increased its holdings in Abbott Laboratories by 8,669.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock valued at $140,128,000 after purchasing an additional 1,385,303 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the transaction, the chief financial officer now directly owns 125,781 shares in the company, valued at approximately $10,788,236.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 116,497 shares of company stock worth $9,981,160 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.84. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. As a group, research analysts forecast that Abbott Laboratories will post 3.25 EPS for the current 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 given a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.59%. Abbott Laboratories’s payout ratio is 44.44%.
ABT has been the subject of a number of recent analyst reports. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Jefferies Financial Group raised their price target on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Wednesday, August 21st. Morgan Stanley raised their price target on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Raymond James dropped their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $87.61.
About Abbott Laboratories
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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