Abbott Laboratories (NYSE:ABT) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its stake in Abbott Laboratories (NYSE:ABT) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,683 shares of the healthcare product maker’s stock after acquiring an additional 694 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Abbott Laboratories were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Abbott Laboratories by 1.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 39,238 shares of the healthcare product maker’s stock worth $3,283,000 after acquiring an additional 649 shares during the last quarter. Whitnell & Co. increased its position in shares of Abbott Laboratories by 16.1% during the 3rd quarter. Whitnell & Co. now owns 56,606 shares of the healthcare product maker’s stock worth $4,736,000 after purchasing an additional 7,830 shares during the last quarter. Lenox Wealth Management Inc. increased its position in shares of Abbott Laboratories by 58.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 1,154 shares of the healthcare product maker’s stock worth $96,000 after purchasing an additional 424 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of Abbott Laboratories by 40.1% during the 3rd quarter. McIlrath & Eck LLC now owns 1,769 shares of the healthcare product maker’s stock worth $148,000 after purchasing an additional 506 shares during the last quarter. Finally, Swaine & Leidel Wealth Services LLC increased its position in shares of Abbott Laboratories by 28.1% during the 3rd quarter. Swaine & Leidel Wealth Services LLC now owns 5,745 shares of the healthcare product maker’s stock worth $2,560,000 after purchasing an additional 1,261 shares during the last quarter. 73.77% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories stock traded up $0.35 during midday trading on Friday, reaching $83.74. 3,388,511 shares of the stock traded hands, compared to its average volume of 5,339,424. The company has a 50-day simple moving average of $82.03 and a two-hundred day simple moving average of $82.26. Abbott Laboratories has a 12-month low of $65.44 and a 12-month high of $88.76. The firm has a market cap of $145.61 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued 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 of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Wednesday, August 21st. BMO Capital Markets raised their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley raised their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Raymond James cut their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $87.61.

In other news, SVP Joseph J. Manning sold 47,226 shares of Abbott Laboratories 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 owns 97,755 shares in the company, valued at approximately $8,322,860.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Randel William Woodgrift sold 21,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, October 23rd. The shares were 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 disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

About Abbott Laboratories

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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