Montag A & Associates Inc. Acquires 11,126 Shares of Abbott Laboratories (NYSE:ABT)

Montag A & Associates Inc. lifted its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,618 shares of the healthcare product maker’s stock after purchasing an additional 11,126 shares during the period. Montag A & Associates Inc.’s holdings in Abbott Laboratories were worth $12,263,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cornerstone Advisors LLC acquired a new position in shares of Abbott Laboratories in the third quarter worth $7,845,000. Navellier & Associates Inc. acquired a new stake in Abbott Laboratories during the third quarter valued at approximately $664,000. Ellevest Inc. raised its position in Abbott Laboratories by 3.6% in the 3rd quarter. Ellevest Inc. now owns 7,617 shares of the healthcare product maker’s stock worth $738,000 after purchasing an additional 262 shares during the last quarter. Waters Parkerson & CO. LLC grew its holdings in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Waters Parkerson & CO. LLC now owns 479,607 shares of the healthcare product maker’s stock valued at $46,450,000 after buying an additional 1,850 shares during the period. Finally, Alliance Wealth Advisors LLC UT raised its holdings in shares of Abbott Laboratories by 2.1% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 24,993 shares of the healthcare product maker’s stock valued at $2,421,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

Shares of NYSE ABT traded up $0.40 during midday trading on Monday, hitting $112.21. The company’s stock had a trading volume of 2,525,431 shares, compared to its average volume of 5,365,553. The business’s fifty day simple moving average is $110.62 and its two-hundred day simple moving average is $103.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 1.23. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $115.83. The firm has a market capitalization of $194.80 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 2.69 and a beta of 0.75.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.84%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 4.61 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.55 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.51. Abbott Laboratories’s payout ratio is currently 67.48%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 15,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,022,916. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABT shares. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Royal Bank of Canada restated an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Barclays upped their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Finally, Morgan Stanley decreased their price objective on Abbott Laboratories from $112.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Get Our Latest Research Report on ABT

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

Further Reading

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.