Mckinley Capital Management LLC Delaware raised its position in Abbott Laboratories (NYSE:ABT) by 26.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,099 shares of the healthcare product maker’s stock after purchasing an additional 90,024 shares during the period. Abbott Laboratories comprises about 2.0% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 14th largest position. Mckinley Capital Management LLC Delaware’s holdings in Abbott Laboratories were worth $31,185,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $103,000. Atlantic Trust LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $104,000. Fort L.P. acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $119,000. Security National Bank of SO Dak increased its stake in shares of Abbott Laboratories by 72.0% during 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 acquiring an additional 878 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV increased its stake in shares of Abbott Laboratories by 1,069.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 72.39% of the company’s stock.
ABT has been the subject of a number of research analyst reports. Cowen upped their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. 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 stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $75.22.
ABT opened at $68.11 on Friday. The company has a market cap of $120.36 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. Abbott Laboratories has a 1 year low of $54.32 and a 1 year high of $74.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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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