Abbott Laboratories $ABT Stock Holdings Raised by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT) by 26.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,561 shares of the healthcare product maker’s stock after acquiring an additional 27,918 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Abbott Laboratories were worth $13,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hohimer Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 22.3% during the third quarter. Hohimer Wealth Management LLC now owns 30,504 shares of the healthcare product maker’s stock worth $3,015,000 after buying an additional 5,557 shares during the period. Carret Asset Management LLC grew its holdings in shares of Abbott Laboratories by 3.2% during the third quarter. Carret Asset Management LLC now owns 52,300 shares of the healthcare product maker’s stock worth $5,169,000 after buying an additional 1,605 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its holdings in shares of Abbott Laboratories by 51.5% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 1,797 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 611 shares during the last quarter. M Holdings Securities Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $1,403,000. Finally, Brighton Jones LLC increased its position in Abbott Laboratories by 5.8% in the 3rd quarter. Brighton Jones LLC now owns 71,630 shares of the healthcare product maker’s stock valued at $7,079,000 after acquiring an additional 3,957 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.1%

Shares of NYSE:ABT opened at $110.02 on Monday. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $132.02. The company has a quick ratio of 1.00, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $104.04 and its 200-day simple moving average is $101.78. The company has a market cap of $190.55 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 1.93 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories’s payout ratio is presently 94.03%.

Insider Transactions at Abbott Laboratories

In other news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ABT. Citigroup reduced their price objective on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. JPMorgan Chase & Co. lowered their target price on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. TD Cowen dropped their target price on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Robert W. Baird upped their price target on Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Finally, UBS Group decreased their price target on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.