Ballast Inc. Purchases New Holdings in Abbott Laboratories (NYSE:ABT)

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Ballast Inc. purchased a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,661 shares of the healthcare product maker’s stock, valued at approximately $289,000.

A number of other institutional investors also recently modified their holdings of the stock. First American Trust FSB lifted its stake in Abbott Laboratories by 2.0% in the 3rd quarter. First American Trust FSB now owns 89,701 shares of the healthcare product maker’s stock valued at $9,763,000 after buying an additional 1,725 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Abbott Laboratories by 171.1% in the 3rd quarter. Avantax Advisory Services Inc. now owns 90,295 shares of the healthcare product maker’s stock valued at $9,832,000 after buying an additional 56,992 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its stake in Abbott Laboratories by 3.6% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 46,260 shares of the healthcare product maker’s stock valued at $5,035,000 after buying an additional 1,616 shares in the last quarter. Tandem Investment Advisors Inc. lifted its stake in Abbott Laboratories by 6.5% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 405,490 shares of the healthcare product maker’s stock worth $44,129,000 after purchasing an additional 24,704 shares in the last quarter. Finally, Legacy Private Trust Co. lifted its stake in Abbott Laboratories by 9.0% in the 3rd quarter. Legacy Private Trust Co. now owns 17,024 shares of the healthcare product maker’s stock worth $1,853,000 after purchasing an additional 1,399 shares in the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on ABT shares. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Wolfe Research started coverage on shares of Abbott Laboratories in a research note on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price on the stock. Finally, Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $114.44.

ABT stock opened at $109.67 on Friday. Abbott Laboratories has a one year low of $61.61 and a one year high of $114.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The firm’s 50 day moving average price is $106.58 and its 200-day moving average price is $96.39. The firm has a market cap of $194.17 billion, a PE ratio of 63.39, a PEG ratio of 3.06 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 3.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $1.44 annualized dividend and a yield of 1.31%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In related news, EVP Andrea F. Wainer sold 30,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $107.01, for a total value of $3,210,300.00. Following the completion of the sale, the executive vice president now owns 74,080 shares in the company, valued at approximately $7,927,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 6,844 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $99.80, for a total transaction of $683,031.20. Following the completion of the sale, the director now owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The disclosure for this sale can be found here. Insiders sold a total of 114,771 shares of company stock valued at $12,220,943 in the last quarter. 1.70% of the stock is owned by insiders.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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