Abbott Laboratories (NYSE:ABT) Shares Acquired by ING Groep NV

ING Groep NV lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,790 shares of the healthcare product maker's stock after acquiring an additional 22,995 shares during the quarter. ING Groep NV's holdings in Abbott Laboratories were worth $51,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the third quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter worth about $32,000. Valued Wealth Advisors LLC raised its holdings in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the second quarter worth about $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT traded down $0.69 during trading hours on Thursday, reaching $115.05. The stock had a trading volume of 3,810,205 shares, compared to its average volume of 5,696,197. The stock has a fifty day moving average of $115.45 and a 200 day moving average of $109.39. The stock has a market cap of $199.55 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52-week low of $96.92 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The business's quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business 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 $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.91%. Abbott Laboratories's dividend payout ratio is presently 66.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ABT shares. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price target 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. UBS Group boosted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Finally, Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.07.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Abbott Laboratories Company Profile

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.