Ridgewood Investments LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Ridgewood Investments LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,248 shares of the healthcare product maker’s stock after acquiring an additional 98 shares during the period. Ridgewood Investments LLC’s holdings in Abbott Laboratories were worth $353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC grew its position in shares of Abbott Laboratories by 278.4% during the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after acquiring an additional 270 shares during the last quarter. RPG Investment Advisory LLC grew its position in shares of Abbott Laboratories by 113.4% during the second quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 203 shares during the last quarter. Bay Harbor Wealth Management LLC grew its position in Abbott Laboratories by 159.9% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 275 shares during the last quarter. Islay Capital Management LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at $46,000. Finally, Arlington Partners LLC grew its position in Abbott Laboratories by 1,187.8% in the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock valued at $48,000 after buying an additional 487 shares during the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.

In other news, EVP Andrea F. Wainer sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $107.01, for a total value of $3,210,300.00. Following the completion of the transaction, the executive vice president now directly owns 74,080 shares of the company’s stock, valued at $7,927,300.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 3,650 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $102.47, for a total value of $374,015.50. Following the completion of the transaction, the executive vice president now directly owns 44,080 shares of the company’s stock, valued at $4,516,877.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,771 shares of company stock worth $12,220,943. 1.70% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Monday, October 12th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, August 27th. Goldman Sachs Group set a $94.00 price objective on shares of Abbott Laboratories and gave the company a “sell” rating in a research report on Wednesday, September 2nd. Finally, Argus lifted their price objective on shares of Abbott Laboratories from $110.00 to $125.00 in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $114.44.

Shares of NYSE ABT opened at $109.67 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $106.58 and its 200 day moving average price is $96.39. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $114.19. The stock has a market cap of $194.17 billion, a price-to-earnings ratio of 63.39, a PEG ratio of 3.06 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 3.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.31%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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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