33,128 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Harbour Investment Management LLC
Harbour Investment Management LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 33,128 shares of the healthcare product maker’s stock, valued at approximately $3,605,000. Abbott Laboratories comprises about 2.2% of Harbour Investment Management LLC’s portfolio, making the stock its 10th biggest holding.
Other hedge funds have also bought and sold shares of the company. JustInvest LLC increased its holdings in shares of Abbott Laboratories by 44.0% during the 2nd quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock worth $1,159,000 after acquiring an additional 3,873 shares during the last quarter. Rhenman & Partners Asset Management AB grew its holdings in Abbott Laboratories by 10.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 205,000 shares of the healthcare product maker’s stock valued at $22,310,000 after buying an additional 20,000 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in Abbott Laboratories by 2.4% in the 3rd quarter. Hubbell Strickland Wealth Management LLC now owns 8,777 shares of the healthcare product maker’s stock valued at $955,000 after buying an additional 209 shares in the last quarter. Callahan Advisors LLC grew its holdings in Abbott Laboratories by 0.7% in the 2nd quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock valued at $9,760,000 after buying an additional 724 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at $203,000. 73.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of ABT stock traded down $1.69 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. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10. Abbott Laboratories has a 12 month low of $61.61 and a 12 month high of $114.19. The stock has a market cap of $190.85 billion, a P/E ratio of 57.03, a price-to-earnings-growth ratio of 2.88 and a beta of 0.92. The company has a 50 day moving average of $106.42 and a 200 day moving average of $97.48.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.34%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
A number of research analysts have commented on ABT shares. Wolfe Research started coverage on Abbott Laboratories in a report on Friday, September 11th. They issued an “outperform” rating and a $124.00 price objective on the stock. Bank of America upped their price objective on Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 20th. SVB Leerink upped their price objective on Abbott Laboratories from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group upped their price objective on Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. One 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 presently has an average rating of “Buy” and an average price target of $115.18.
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 3,650 shares of the 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 $4,516,877.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the stock in a transaction dated Thursday, August 27th. The shares were 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. Insiders sold 84,919 shares of company stock valued at $9,283,128 over the last quarter. Corporate insiders own 1.70% of the company’s stock.
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; MÃ©niÃ¨re'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.
See Also: SEC Filing
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