Autus Asset Management LLC Raises Holdings in Abbott Laboratories (ABT)

Autus Asset Management LLC grew its position in Abbott Laboratories (NYSE:ABT) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,437 shares of the healthcare product maker’s stock after purchasing an additional 2,324 shares during the period. Abbott Laboratories comprises about 1.6% of Autus Asset Management LLC’s holdings, making the stock its 20th largest position. Autus Asset Management LLC’s holdings in Abbott Laboratories were worth $9,495,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. Principal Financial Group Inc. lifted its position in Abbott Laboratories by 4.3% during the first quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock valued at $307,990,000 after purchasing an additional 211,233 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Abbott Laboratories by 18.9% during the first quarter. Summit Trail Advisors LLC now owns 18,403 shares of the healthcare product maker’s stock valued at $769,000 after purchasing an additional 2,923 shares during the last quarter. Gulf International Bank UK Ltd lifted its position in Abbott Laboratories by 3.0% during the second quarter. Gulf International Bank UK Ltd now owns 563,273 shares of the healthcare product maker’s stock valued at $34,354,000 after purchasing an additional 16,363 shares during the last quarter. Tandem Investment Advisors Inc. lifted its position in Abbott Laboratories by 0.3% during the second quarter. Tandem Investment Advisors Inc. now owns 263,225 shares of the healthcare product maker’s stock valued at $16,054,000 after purchasing an additional 897 shares during the last quarter. Finally, DnB Asset Management AS lifted its position in Abbott Laboratories by 5.2% during the second quarter. DnB Asset Management AS now owns 210,576 shares of the healthcare product maker’s stock valued at $12,843,000 after purchasing an additional 10,400 shares during the last quarter. 72.30% of the stock is currently owned by institutional investors.

ABT stock opened at $67.31 on Tuesday. The stock has a market capitalization of $117.52 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.99 and a beta of 1.49. Abbott Laboratories has a 12 month low of $53.61 and a 12 month high of $74.15. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. On average, equities research analysts expect that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.

Several equities research analysts have recently issued reports on ABT shares. Cowen raised their target price on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a report on Friday, October 5th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Royal Bank of Canada restated a “buy” rating and issued a $70.00 target price on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Morgan Stanley raised their target price on shares of Abbott Laboratories from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.22.

In other Abbott Laboratories news, SVP Jaime Contreras sold 64,268 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the transaction, the insider now directly owns 93,321 shares in the company, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. Insiders sold a total of 138,297 shares of company stock worth $9,403,743 in the last ninety days. 0.74% of the stock is currently owned by insiders.

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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