DAVENPORT & Co LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 587,306 shares of the healthcare product maker’s stock after selling 2,081 shares during the period. DAVENPORT & Co LLC’s holdings in Abbott Laboratories were worth $63,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ABT. Crewe Advisors LLC boosted its position in Abbott Laboratories by 278.4% during the third quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock valued at $40,000 after purchasing an additional 270 shares in the last quarter. RPG Investment Advisory LLC boosted its holdings in shares of Abbott Laboratories by 113.4% in the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 203 shares in the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in shares of Abbott Laboratories by 159.9% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 275 shares in the last quarter. Islay Capital Management LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $46,000. Finally, Arlington Partners LLC raised its stake in shares of Abbott Laboratories by 1,187.8% during the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock worth $48,000 after acquiring an additional 487 shares in the last quarter. 73.09% of the stock is owned by institutional investors.

Shares of ABT stock traded up $2.35 on Friday, reaching $109.67. 4,363,766 shares of the company were exchanged, compared to its average volume of 7,182,726. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19. 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 business has a 50-day moving average price of $106.58 and a 200 day moving average price of $96.39. The company has a market cap of $194.17 billion, a price-to-earnings ratio of 63.39, a P/E/G ratio of 3.06 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) 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 analysts’ expectations 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 was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 3.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued 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 payout ratio is currently 44.44%.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Citigroup upped their price target on shares of Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. boosted their target price on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Argus boosted their price objective on Abbott Laboratories from $110.00 to $125.00 in a report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their target price on Abbott Laboratories from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus price target of $114.44.

In other Abbott Laboratories news, Director Roxanne S. Austin sold 6,844 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $99.80, for a total value of $683,031.20. Following the transaction, the director now directly owns 40,043 shares in the company, valued at approximately $3,996,291.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Roger Bird sold 6,290 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $108.73, for a total transaction of $683,911.70. Following the completion of the sale, the senior vice president now directly owns 56,630 shares of the company’s stock, valued at approximately $6,157,379.90. The disclosure for this sale can be found here. Insiders sold a total of 114,771 shares of company stock valued at $12,220,943 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Abbott Laboratories Company 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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