33,128 Shares in Abbott Laboratories (NYSE:ABT) Bought by Harbour Investment Management LLC

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Harbour Investment Management LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, Holdings Channel reports. The institutional investor purchased 33,128 shares of the healthcare product maker’s stock, valued at approximately $3,605,000. Abbott Laboratories comprises 2.2% of Harbour Investment Management LLC’s holdings, making the stock its 10th biggest holding.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its holdings in Abbott Laboratories by 5.2% during the second quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after acquiring an additional 6,621,486 shares during the period. State Street Corp raised its stake in shares of Abbott Laboratories by 0.7% in the first quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after buying an additional 528,871 shares during the period. Morgan Stanley raised its stake in shares of Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after buying an additional 2,578,161 shares during the period. GQG Partners LLC raised its stake in shares of Abbott Laboratories by 29.3% in the second quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock valued at $1,146,169,000 after buying an additional 2,841,074 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Abbott Laboratories by 3.7% in the second quarter. Nuveen Asset Management LLC now owns 10,100,593 shares of the healthcare product maker’s stock valued at $923,496,000 after buying an additional 359,477 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.

In other news, EVP Andrea F. Wainer sold 3,650 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,516,877.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $111.86, for a total value of $4,751,700.94. Following the completion of the transaction, the executive vice president now owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,919 shares of company stock valued at $9,283,128. 1.70% of the stock is owned by company insiders.

Abbott Laboratories stock traded down $1.69 during midday trading on Friday, hitting $107.79. 3,573,013 shares of the company’s stock were exchanged, compared to its average volume of 4,941,311. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $114.19. The stock has a 50-day moving average price of $106.42 and a two-hundred day moving average price of $97.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The company has a market cap of $190.85 billion, a P/E ratio of 57.03, a PEG ratio of 2.88 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a return on equity of 18.30% and a net margin of 10.50%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 3.57 earnings per share for the current year.

The firm also recently announced 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. This represents a $1.44 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s payout ratio is 44.44%.

ABT has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Citigroup boosted their target price on Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 28th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, SVB Leerink lifted their price target on Abbott Laboratories from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $115.18.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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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