Dearborn Partners LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Dearborn Partners LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,530 shares of the healthcare product maker’s stock after buying an additional 94 shares during the quarter. Dearborn Partners LLC’s holdings in Abbott Laboratories were worth $11,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Abbott Laboratories by 5.2% during the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after buying an additional 6,621,486 shares in the last quarter. State Street Corp raised its stake in shares of Abbott Laboratories by 0.7% in the first quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after acquiring an additional 528,871 shares in the last quarter. Morgan Stanley boosted its holdings in Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after purchasing an additional 2,578,161 shares during the period. GQG Partners LLC grew its stake in Abbott Laboratories by 29.3% during the 2nd quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock worth $1,146,169,000 after purchasing an additional 2,841,074 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Abbott Laboratories by 3.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 10,100,593 shares of the healthcare product maker’s stock worth $923,496,000 after purchasing an additional 359,477 shares during the period. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Randel William Woodgrift sold 2,500 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $105.28, for a total value of $263,200.00. Following the completion of the sale, the senior vice president now owns 46,267 shares in the company, valued at approximately $4,870,989.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of Abbott Laboratories stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now directly owns 144,912 shares in the company, valued at approximately $16,209,856.32. The disclosure for this sale can be found here. Insiders have sold a total of 84,919 shares of company stock valued at $9,283,128 over the last ninety days. 1.70% of the stock is owned by insiders.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. SVB Leerink boosted their price target on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday. Goldman Sachs Group set a $94.00 price objective on shares of Abbott Laboratories and gave the company a “sell” rating in a report on Wednesday, September 2nd. Citigroup boosted their target price on shares of Abbott Laboratories from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Monday, October 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $115.18.

Shares of ABT traded down $0.79 during mid-day trading on Friday, reaching $108.69. 56,730 shares of the company’s stock were exchanged, compared to its average volume of 7,132,733. The business’s fifty day simple moving average is $106.42 and its 200-day simple moving average is $97.33. The stock has a market capitalization of $193.84 billion, a PE ratio of 63.28, a price-to-earnings-growth ratio of 2.98 and a beta of 0.92. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $114.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the firm posted $0.84 EPS. Abbott Laboratories’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 3.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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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