Wilmington Savings Fund Society FSB Boosts Stake in Abbott Laboratories (NYSE:ABT)

Wilmington Savings Fund Society FSB raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 32.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 332,189 shares of the healthcare product maker's stock after purchasing an additional 81,669 shares during the period. Abbott Laboratories makes up approximately 0.7% of Wilmington Savings Fund Society FSB's portfolio, making the stock its 27th biggest holding. Wilmington Savings Fund Society FSB's holdings in Abbott Laboratories were worth $37,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Groupama Asset Managment raised its position in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter worth about $32,000. Finally, Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the 3rd quarter worth about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT stock traded down $0.27 during midday trading on Thursday, reaching $113.87. 3,763,866 shares of the company's stock traded hands, compared to its average volume of 5,623,352. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a 50-day moving average price of $116.22 and a two-hundred day moving average price of $111.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $197.50 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.72 and a beta of 0.73.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories's dividend payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price objective on the stock. Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Morgan Stanley lifted 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. Finally, UBS Group increased their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $130.07.

About Abbott Laboratories

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.