Whitnell & Co. Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Whitnell & Co. boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,606 shares of the healthcare product maker’s stock after buying an additional 7,830 shares during the quarter. Abbott Laboratories accounts for approximately 1.6% of Whitnell & Co.’s investment portfolio, making the stock its 15th largest position. Whitnell & Co.’s holdings in Abbott Laboratories were worth $4,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in Abbott Laboratories by 7,888.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after acquiring an additional 12,222,999 shares in the last quarter. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after acquiring an additional 2,262,152 shares in the last quarter. BlackRock Inc. grew its holdings in Abbott Laboratories by 1.8% during the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after acquiring an additional 2,199,601 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Abbott Laboratories during the 2nd quarter worth about $158,475,000. Finally, Thoroughbred Financial Services LLC grew its holdings in Abbott Laboratories by 8,669.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock worth $140,128,000 after acquiring an additional 1,385,303 shares in the last quarter. 73.77% of the stock is owned by institutional investors.

Several brokerages have issued reports on ABT. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. BMO Capital Markets increased their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Cowen increased their price target on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Raymond James decreased their price target on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, Credit Suisse Group increased their price target on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $87.61.

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In other news, SVP Randel William Woodgrift sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at approximately $5,521,983.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the sale, the senior vice president now directly owns 97,755 shares in the company, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

ABT traded up $0.35 during trading on Friday, reaching $83.74. 3,388,511 shares of the company’s stock were exchanged, compared to its average volume of 5,339,424. Abbott Laboratories has a 1 year low of $65.44 and a 1 year high of $88.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. The stock has a market capitalization of $145.61 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The company’s fifty day simple moving average is $82.03 and its 200-day simple moving average is $82.26.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the firm posted $0.75 EPS. Abbott Laboratories’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 3.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

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 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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