Bennicas & Associates Inc. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,741 shares of the healthcare product maker’s stock after purchasing an additional 583 shares during the period. Abbott Laboratories accounts for about 1.1% of Bennicas & Associates Inc.’s investment portfolio, making the stock its 29th largest position. Bennicas & Associates Inc.’s holdings in Abbott Laboratories were worth $1,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Investment Advisors MI raised its stake in shares of Abbott Laboratories by 16.7% in the 3rd quarter. Strategic Investment Advisors MI now owns 6,104 shares of the healthcare product maker’s stock valued at $664,000 after acquiring an additional 872 shares in the last quarter. Ridgewood Investments LLC raised its stake in shares of Abbott Laboratories by 3.1% in the 3rd quarter. Ridgewood Investments LLC now owns 3,248 shares of the healthcare product maker’s stock valued at $353,000 after acquiring an additional 98 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of Abbott Laboratories by 3.9% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,723 shares of the healthcare product maker’s stock valued at $296,000 after acquiring an additional 103 shares in the last quarter. TRH Financial LLC raised its stake in shares of Abbott Laboratories by 10.4% in the 3rd quarter. TRH Financial LLC now owns 29,680 shares of the healthcare product maker’s stock valued at $3,230,000 after acquiring an additional 2,789 shares in the last quarter. Finally, Ballast Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $289,000. 73.09% of the stock is owned by institutional investors.

Shares of NYSE:ABT opened at $109.67 on Friday. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $114.19. The firm has a market capitalization of $194.17 billion, a PE ratio of 63.39, a PEG ratio of 3.06 and a beta of 0.92. The business’s 50 day moving average is $106.58 and its 200-day moving average is $96.39. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.85 billion. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. Abbott Laboratories’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 3.3 EPS for the current year.

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

In related news, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $98.00, for a total value of $2,254,784.00. Following the sale, the senior vice president now owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 3,650 shares of Abbott Laboratories stock in a transaction on Wednesday, September 23rd. The shares were 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 owns 44,080 shares of the company’s stock, valued at approximately $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 insiders.

A number of brokerages recently weighed in on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Monday, October 12th. Wells Fargo & Company raised their target price on Abbott Laboratories from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Citigroup raised their target price on Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 28th. JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Finally, Goldman Sachs Group set a $94.00 target price on Abbott Laboratories and gave the company a “sell” rating in a report on Wednesday, September 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $114.44.

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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