McIlrath & Eck LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 40.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,769 shares of the healthcare product maker’s stock after buying an additional 506 shares during the quarter. McIlrath & Eck LLC’s holdings in Abbott Laboratories were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Manchester Financial Inc. purchased a new position in Abbott Laboratories during the 2nd quarter worth $30,000. Redhawk Wealth Advisors Inc. purchased a new stake in Abbott Laboratories during the 2nd quarter valued at about $33,000. 1 North Wealth Services LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at about $38,000. Marquette Asset Management LLC grew its stake in Abbott Laboratories by 173.4% during the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 300 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in Abbott Laboratories during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 73.77% of the company’s stock.
Several analysts have weighed in on the company. BMO Capital Markets boosted their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James dropped their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $87.61.
In related news, SVP Randel William Woodgrift sold 21,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now owns 68,562 shares of the company’s stock, valued at approximately $5,521,983.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
Shares of ABT traded up $0.35 during mid-day trading on Friday, reaching $83.74. The company had a trading volume of 3,388,511 shares, compared to its average volume of 5,339,424. Abbott Laboratories has a 52-week low of $65.44 and a 52-week high of $88.76. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $145.61 billion, a P/E ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. The stock has a 50 day moving average of $82.03 and a two-hundred day moving average of $82.26.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Abbott Laboratories will post 3.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is 44.44%.
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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