Polianta Ltd Takes Position in Abbott Laboratories (NYSE:ABT)

Polianta Ltd acquired a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, Holdings Channel reports. The firm acquired 13,400 shares of the healthcare product maker’s stock, valued at approximately $1,121,000. Abbott Laboratories comprises approximately 0.7% of Polianta Ltd’s portfolio, making the stock its 28th largest position.

Several other institutional investors have also made changes to their positions in ABT. Manchester Financial Inc. purchased a new position in shares of Abbott Laboratories in the second quarter valued at about $30,000. Front Row Advisors LLC lifted its position in shares of Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after acquiring an additional 348 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $33,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $33,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $41,000. Institutional investors and hedge funds own 73.71% of the company’s stock.

A number of equities research analysts recently commented on the company. Bank of America reiterated a “buy” rating and issued a $81.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 13th. Cowen boosted their target price on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. BMO Capital Markets boosted their target price on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Co boosted their target price on Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.74.

In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian B. Yoor sold 43,763 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the sale, the chief financial officer now directly owns 125,781 shares in the company, valued at $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold 181,497 shares of company stock worth $15,701,810 over the last three months. 0.70% of the stock is currently owned by insiders.

NYSE ABT traded up $0.80 during trading hours on Wednesday, hitting $79.31. 1,945,022 shares of the company were exchanged, compared to its average volume of 5,358,529. The stock has a 50-day moving average price of $83.43 and a 200 day moving average price of $81.66. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76. The stock has a market cap of $144.91 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.61%. Abbott Laboratories’s payout ratio is currently 44.44%.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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