Abbott Laboratories (NYSE:ABT) Stock Position Raised by FLC Capital Advisors

FLC Capital Advisors lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,584 shares of the healthcare product maker’s stock after acquiring an additional 290 shares during the quarter. FLC Capital Advisors’ holdings in Abbott Laboratories were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position 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 worth $5,846,010,000 after buying an additional 528,871 shares during the period. Morgan Stanley boosted its position in shares of Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock worth $2,001,335,000 after buying an additional 2,578,161 shares during the period. AXA boosted its position in shares of Abbott Laboratories by 11.6% in the first quarter. AXA now owns 526,473 shares of the healthcare product maker’s stock worth $41,544,000 after buying an additional 54,800 shares during the period. APG Asset Management N.V. boosted its position in shares of Abbott Laboratories by 176.8% in the first quarter. APG Asset Management N.V. now owns 2,011,447 shares of the healthcare product maker’s stock worth $158,723,000 after buying an additional 1,284,722 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Abbott Laboratories by 1.3% in the first quarter. Clearbridge Investments LLC now owns 53,883 shares of the healthcare product maker’s stock worth $4,252,000 after buying an additional 673 shares during the period. 73.09% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on ABT. Stifel Nicolaus raised their target price on Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Morgan Stanley raised their target price on Abbott Laboratories from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. Argus lifted their price objective on Abbott Laboratories from $110.00 to $125.00 in a research report on Thursday, July 23rd. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, August 27th. Finally, Wolfe Research assumed coverage on Abbott Laboratories in a report on Friday, September 11th. They set an “outperform” rating and a $124.00 target price on the stock. 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. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $115.18.

In related news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $111.86, for a total value of $4,751,700.94. Following the completion of the transaction, the executive vice president now owns 144,912 shares in the company, valued at approximately $16,209,856.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 3,650 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $102.47, for a total transaction of $374,015.50. Following the completion of the transaction, the executive vice president now owns 44,080 shares of the company’s stock, valued at approximately $4,516,877.60. The disclosure for this sale can be found here. Insiders sold a total of 84,919 shares of company stock worth $9,283,128 over the last three months. 1.70% of the stock is owned by company insiders.

Shares of ABT traded up $0.91 on Monday, hitting $108.70. The company’s stock had a trading volume of 245,470 shares, compared to its average volume of 4,734,460. The company has a market capitalization of $190.85 billion, a PE ratio of 57.56, a PEG ratio of 2.46 and a beta of 0.92. 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 has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The company has a 50 day moving average price of $106.42 and a 200 day moving average price of $97.48.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08. The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.53 billion. Abbott Laboratories had a return on equity of 18.30% and a net margin of 10.50%. Abbott Laboratories’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, equities analysts forecast that Abbott Laboratories will post 3.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s payout ratio is currently 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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