WealthTrust Fairport LLC Has $8.72 Million Holdings in Abbott Laboratories (ABT)

WealthTrust Fairport LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 118,795 shares of the healthcare product maker’s stock after acquiring an additional 1,579 shares during the period. WealthTrust Fairport LLC’s holdings in Abbott Laboratories were worth $8,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Morgan Stanley boosted its position in Abbott Laboratories by 33.1% during the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after buying an additional 5,274,307 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Abbott Laboratories during the second quarter valued at about $275,697,000. American Century Companies Inc. boosted its position in Abbott Laboratories by 417.9% during the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after buying an additional 4,507,553 shares during the period. BlackRock Inc. boosted its position in Abbott Laboratories by 3.7% during the second quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock valued at $7,083,972,000 after buying an additional 4,153,157 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Abbott Laboratories by 12.0% during the second quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after buying an additional 1,468,430 shares during the period. Institutional investors and hedge funds own 72.30% of the company’s stock.

In other news, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the completion of the transaction, the insider now directly owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The sale was disclosed in a legal 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 dated Wednesday, August 29th. The shares were sold at an average price of $66.84, for a total transaction of $4,295,673.12. Following the transaction, the senior vice president now directly 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 ninety days, insiders have sold 203,297 shares of company stock valued at $14,018,743. Insiders own 0.74% of the company’s stock.

Several analysts have issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a research report on Thursday, July 19th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, October 18th. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 18th. Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Raymond James upped their price target on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $75.22.

Shares of NYSE:ABT opened at $72.79 on Friday. The stock has a market cap of $127.33 billion, a PE ratio of 25.80, a PEG ratio of 2.15 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 12 month low of $54.32 and a 12 month high of $74.15.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

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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 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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