MML Investors Services LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 35.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,702 shares of the healthcare product maker’s stock after buying an additional 26,769 shares during the period. MML Investors Services LLC’s holdings in Abbott Laboratories were worth $7,461,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of ABT. Ontario Teachers Pension Plan Board increased its position in shares of Abbott Laboratories by 8.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after acquiring an additional 1,762 shares during the last quarter. HRT Financial LLC acquired a new stake in shares of Abbott Laboratories during the second quarter valued at about $206,000. American Century Companies Inc. grew its holdings in shares of Abbott Laboratories by 417.9% in 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 purchasing an additional 4,507,553 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Abbott Laboratories by 0.8% in the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after purchasing an additional 9,229 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $1,793,000. 72.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ABT. Raymond James lifted their price objective on shares of Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, October 18th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 11th. Wells Fargo & Co lifted their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $75.22.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were paid a $0.28 dividend. The ex-dividend date was Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.63%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
In related news, SVP Jaime Contreras sold 64,268 shares of Abbott Laboratories stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 125,471 shares in the company, valued at $8,386,481.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jared Watkin sold 65,000 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the insider now owns 128,640 shares of the company’s stock, valued at approximately $9,133,440. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 in the last quarter. 0.74% of the stock is owned by insiders.
Abbott Laboratories Company 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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