Copley Financial Group Inc. bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,681 shares of the healthcare product maker's stock, valued at approximately $648,000.
Several other institutional investors also recently modified their holdings of the stock. Simplify Asset Management Inc. boosted its stake in Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker's stock worth $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Dundas Partners LLP boosted its position in shares of Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker's stock worth $34,313,000 after purchasing an additional 6,897 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Abbott Laboratories by 19.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker's stock valued at $22,091,000 after buying an additional 31,720 shares during the period. MONECO Advisors LLC increased its position in shares of Abbott Laboratories by 110.1% in the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker's stock valued at $3,551,000 after buying an additional 16,325 shares in the last quarter. Finally, Proactive Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth $2,176,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories Stock Down 0.4 %
ABT stock traded down $0.48 during mid-day trading on Friday, reaching $113.38. The company had a trading volume of 4,550,900 shares, compared to its average volume of 5,618,930. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market capitalization of $196.65 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $116.27 and a two-hundred day simple moving average of $111.12.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same period last year, the business earned $1.14 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.
Abbott Laboratories Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.08%. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on ABT shares. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $130.71.
Get Our Latest Analysis on Abbott Laboratories
Abbott Laboratories Profile
(
Free Report)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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![Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=ABT)
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