Atwood & Palmer Inc. Raises Position in Abbott Laboratories (ABT)

Atwood & Palmer Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 76.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,770 shares of the healthcare product maker’s stock after purchasing an additional 2,500 shares during the quarter. Atwood & Palmer Inc.’s holdings in Abbott Laboratories were worth $280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gratus Capital LLC increased its position in shares of Abbott Laboratories by 0.9% during the second quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after purchasing an additional 1,869 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Abbott Laboratories by 76.1% during the second quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock worth $221,536,000 after purchasing an additional 1,969,723 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its position in shares of Abbott Laboratories by 1.6% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 18,052 shares of the healthcare product maker’s stock worth $878,000 after purchasing an additional 278 shares in the last quarter. Motco increased its position in shares of Abbott Laboratories by 213.7% during the second quarter. Motco now owns 2,880 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Homrich & Berg increased its position in shares of Abbott Laboratories by 31.7% during the second quarter. Homrich & Berg now owns 8,480 shares of the healthcare product maker’s stock worth $412,000 after purchasing an additional 2,039 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.

In other news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the transaction, the insider now owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,920 shares of company stock worth $15,389,766. Corporate insiders own 0.76% of the company’s stock.

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Several analysts recently commented on the company. Cowen and Company reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 17th. BidaskClub cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. BMO Capital Markets reiterated a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays PLC boosted their price target on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $56.81.

Abbott Laboratories (ABT) opened at $55.56 on Friday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69. The company has a market capitalization of $96,707.79, a price-to-earnings ratio of 23.05, a PEG ratio of 2.08 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up 28.8% on a year-over-year basis. sell-side analysts expect that Abbott Laboratories will post 2.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.

About Abbott Laboratories

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)

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