Jarislowsky Fraser Ltd Raises Stake in Abbott Laboratories (NYSE:ABT)

Jarislowsky Fraser Ltd raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,389,463 shares of the healthcare product maker’s stock after buying an additional 2,932 shares during the quarter. Jarislowsky Fraser Ltd owned about 0.14% of Abbott Laboratories worth $127,501,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Heritage Trust Co boosted its position in shares of Abbott Laboratories by 10.1% during the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares during the last quarter. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $106,000. Winfield Associates Inc. boosted its position in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after acquiring an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in shares of Abbott Laboratories by 17.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after acquiring an additional 370 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 349.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 2,094 shares during the last quarter. 71.19% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. Cowen reissued a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Bank of America reissued a “buy” rating and set a $60.00 price target (up previously from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.24.

In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sharon J. Bracken sold 2,188 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the sale, the insider now directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock worth $27,533,150 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Abbott Laboratories (NYSE ABT) opened at $58.44 on Wednesday. Abbott Laboratories has a 1 year low of $39.25 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The company has a market cap of $101,720.00, a PE ratio of 48.30, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. Abbott Laboratories’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.92%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio is presently 92.56%.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Week Herald and is owned by of Week Herald. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://weekherald.com/2018/01/17/jarislowsky-fraser-ltd-purchases-2932-shares-of-abbott-laboratories-abt.html.

Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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.

Leave a Reply