Pinnacle Wealth Planning Services Inc. Boosts Stake in Abbott Laboratories (NYSE:ABT)

Pinnacle Wealth Planning Services Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 61.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,967 shares of the healthcare product maker’s stock after purchasing an additional 2,656 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Abbott Laboratories were worth $582,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABT. Vanguard Group Inc. boosted its position in Abbott Laboratories by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after buying an additional 2,262,152 shares during the period. BlackRock Inc. boosted its holdings in shares of Abbott Laboratories by 1.8% in the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after acquiring an additional 2,199,601 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Abbott Laboratories by 0.9% in the second quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after acquiring an additional 149,307 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Abbott Laboratories by 7,888.6% in the second quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after acquiring an additional 12,222,999 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Abbott Laboratories by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,653,964 shares of the healthcare product maker’s stock valued at $643,699,000 after acquiring an additional 199,283 shares in the last quarter. 73.82% of the stock is owned by hedge funds and other institutional investors.

ABT stock traded down $0.95 during trading on Friday, reaching $82.66. 4,268,747 shares of the company were exchanged, compared to its average volume of 4,925,928. The company has a market cap of $147.77 billion, a P/E ratio of 28.70, a PEG ratio of 2.41 and a beta of 1.13. Abbott Laboratories has a 52-week low of $65.44 and a 52-week high of $88.76. The stock’s 50 day moving average price is $82.15 and its 200 day moving average price is $81.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $8.10 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts forecast that Abbott Laboratories will post 3.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Several analysts have recently weighed in on the stock. Credit Suisse Group lifted their target price on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. William Blair reaffirmed an “underperform” rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Finally, Raymond James lowered their target price on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $87.61.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the completion of the transaction, the senior vice president now owns 104,228 shares in the company, valued at $9,004,256.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of Abbott Laboratories stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,997 shares of company stock worth $11,453,375. 0.70% of the stock is owned by insiders.

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 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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