Abbott Laboratories (ABT) Holdings Boosted by Boston Family Office LLC

Boston Family Office LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,362 shares of the healthcare product maker’s stock after purchasing an additional 5,529 shares during the period. Boston Family Office LLC’s holdings in Abbott Laboratories were worth $8,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Principal Financial Group Inc. lifted its stake in Abbott Laboratories by 4.3% in the first quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock worth $307,990,000 after purchasing an additional 211,233 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Abbott Laboratories by 1.3% in the second quarter. Fisher Asset Management LLC now owns 409,453 shares of the healthcare product maker’s stock valued at $24,973,000 after acquiring an additional 5,296 shares during the period. Handelsbanken Fonder AB increased its position in shares of Abbott Laboratories by 36.4% in the second quarter. Handelsbanken Fonder AB now owns 75,000 shares of the healthcare product maker’s stock valued at $4,574,000 after acquiring an additional 20,000 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of Abbott Laboratories by 183.4% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 247,671 shares of the healthcare product maker’s stock valued at $15,105,000 after acquiring an additional 160,289 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in shares of Abbott Laboratories by 2.1% in the second quarter. Xact Kapitalforvaltning AB now owns 316,427 shares of the healthcare product maker’s stock valued at $19,299,000 after acquiring an additional 6,409 shares during the period. 72.30% of the stock is currently owned by institutional investors.

In related news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the transaction, the insider now owns 35,576 shares in the company, valued at $2,387,505.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jaime Contreras sold 64,268 shares of the business’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 in the company, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. Insiders have sold 203,297 shares of company stock worth $14,018,743 in the last quarter. 0.74% of the stock is owned by corporate insiders.

Shares of NYSE ABT opened at $72.96 on Friday. Abbott Laboratories has a 1 year low of $54.32 and a 1 year high of $74.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. The stock has a market cap of $124.63 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.11 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. Abbott Laboratories’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts predict 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

ABT has been the topic of a number of analyst reports. Cowen boosted their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research report on Friday, October 5th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $75.22.

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Abbott Laboratories Company Profile

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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