Abbott Laboratories (ABT) Shares Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 41.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,724 shares of the healthcare product maker’s stock after purchasing an additional 11,355 shares during the period. Abbott Laboratories comprises about 0.9% of Moloney Securities Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Moloney Securities Asset Management LLC’s holdings in Abbott Laboratories were worth $2,066,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABT. Sit Investment Associates Inc. lifted its holdings in Abbott Laboratories by 5.8% in the third quarter. Sit Investment Associates Inc. now owns 727,520 shares of the healthcare product maker’s stock worth $38,820,000 after acquiring an additional 39,912 shares during the last quarter. McQueen Ball & Associates Inc. lifted its holdings in Abbott Laboratories by 2.8% in the third quarter. McQueen Ball & Associates Inc. now owns 47,791 shares of the healthcare product maker’s stock worth $2,550,000 after acquiring an additional 1,311 shares during the last quarter. Curbstone Financial Management Corp lifted its holdings in Abbott Laboratories by 95.2% in the third quarter. Curbstone Financial Management Corp now owns 39,728 shares of the healthcare product maker’s stock worth $2,120,000 after acquiring an additional 19,371 shares during the last quarter. Park National Corp OH lifted its holdings in Abbott Laboratories by 0.4% in the third quarter. Park National Corp OH now owns 602,236 shares of the healthcare product maker’s stock worth $32,135,000 after acquiring an additional 2,236 shares during the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Abbott Laboratories in the second quarter worth about $1,038,000. 71.32% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the transaction, the insider now owns 113,426 shares in the company, valued at $6,005,906.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold 616,332 shares of company stock worth $33,579,226 in the last quarter. Company insiders own 0.76% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) opened at $55.50 on Monday. Abbott Laboratories has a 12 month low of $37.90 and a 12 month high of $56.69. The company has a market cap of $96,603.35, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the business earned $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.

ABT has been the topic of a number of recent research reports. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a report on Friday, September 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $57.56.

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Abbott Laboratories Company Profile

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.

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

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