Strategy Asset Managers LLC Acquires Shares of 44,129 Abbott Laboratories (ABT)

Strategy Asset Managers LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent filing with the SEC. The firm acquired 44,129 shares of the healthcare product maker’s stock, valued at approximately $3,237,000.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Abbott Laboratories by 4.3% in the 1st quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock valued at $307,990,000 after buying an additional 211,233 shares in the last quarter. Fisher Asset Management LLC grew its stake in Abbott Laboratories by 1.3% in the 2nd quarter. Fisher Asset Management LLC now owns 409,453 shares of the healthcare product maker’s stock valued at $24,973,000 after buying an additional 5,296 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Abbott Laboratories by 36.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 75,000 shares of the healthcare product maker’s stock valued at $4,574,000 after buying an additional 20,000 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Abbott Laboratories by 2.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 316,427 shares of the healthcare product maker’s stock valued at $19,299,000 after buying an additional 6,409 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Abbott Laboratories by 1.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 484,707 shares of the healthcare product maker’s stock valued at $29,562,000 after buying an additional 6,179 shares in the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

In other news, insider Jared Watkin sold 65,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the transaction, the insider now directly owns 128,640 shares in the company, valued at approximately $9,133,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sharon J. Bracken sold 1,732 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Insiders have sold a total of 203,297 shares of company stock valued at $14,018,743 over the last 90 days. Company insiders own 0.74% of the company’s stock.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price objective on shares of Abbott Laboratories in a research note on Thursday, July 19th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, Raymond James lifted their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $75.22.

ABT opened at $72.79 on Friday. The firm has a market cap of $127.33 billion, a PE ratio of 25.80, a PEG ratio of 2.15 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a one year low of $54.32 and a one year high of $74.15.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Sell-side analysts forecast that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.54%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.80%.

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Abbott Laboratories 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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