USA Financial Portformulas Corp purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,369 shares of the healthcare product maker’s stock, valued at approximately $510,000.
Several other large investors also recently bought and sold shares of ABT. Signature Estate & Investment Advisors LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at $103,000. Atlantic Trust LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at $104,000. FNY Investment Advisers LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at $118,000. Fort L.P. bought a new stake in Abbott Laboratories in the 2nd quarter valued at $119,000. Finally, Security National Bank of SO Dak boosted its stake in Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after purchasing an additional 878 shares during the period. 72.30% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ABT opened at $70.96 on Wednesday. The firm has a market cap of $123.28 billion, a PE ratio of 28.38, a P/E/G ratio of 2.08 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a fifty-two week low of $54.32 and a fifty-two week high of $74.15.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.58%. Abbott Laboratories’s payout ratio is 44.80%.
In other news, insider Jared Watkin sold 65,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the sale, the insider now directly owns 128,640 shares in the company, valued at approximately $9,133,440. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jaime Contreras sold 64,268 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total value of $4,295,673.12. Following the sale, the senior vice president now owns 125,471 shares of the company’s stock, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,297 shares of company stock valued at $14,018,743. Corporate insiders own 0.74% of the company’s stock.
Several research firms recently issued reports on ABT. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 18th. Raymond James boosted their price target on Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, October 18th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Barclays began coverage on Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price target for the company. Finally, Morgan Stanley boosted their price target on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $75.22.
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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