Northstar Asset Management LLC Purchases New Position in Abbott Laboratories (ABT)

Northstar Asset Management LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,628 shares of the healthcare product maker’s stock, valued at approximately $266,000.

Several other hedge funds also recently modified their holdings of ABT. Morgan Stanley increased its stake in shares of Abbott Laboratories by 33.1% during the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock worth $1,294,103,000 after purchasing an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $275,697,000. American Century Companies Inc. increased its stake in shares of Abbott Laboratories by 417.9% during the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock worth $340,697,000 after purchasing an additional 4,507,553 shares during the last quarter. BlackRock Inc. increased its stake in shares of Abbott Laboratories by 3.7% during the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after purchasing an additional 4,153,157 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Abbott Laboratories by 12.0% during the 2nd quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock worth $836,067,000 after purchasing an additional 1,468,430 shares during the last quarter. Institutional investors own 72.30% of the company’s stock.

Several equities research analysts have recently issued reports on ABT shares. Cowen raised their price target on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research note on Friday, October 5th. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Royal Bank of Canada restated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 19th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $70.00 to $80.00 and gave the stock 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 has a consensus rating of “Buy” and a consensus target price of $75.22.

Abbott Laboratories stock opened at $72.79 on Friday. Abbott Laboratories has a 1-year low of $54.32 and a 1-year high of $74.15. The company has a market capitalization of $128.14 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.17 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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the business earned $0.66 EPS. Abbott Laboratories’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 2.89 EPS for the current year.

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

In other news, SVP Jaime Contreras sold 64,268 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 125,471 shares in the company, valued at approximately $8,386,481.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sharon J. Bracken sold 1,732 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Insiders sold a total of 203,297 shares of company stock valued at $14,018,743 over the last quarter. 0.74% of the stock is owned by company insiders.

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

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