Naples Global Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 0.6% in the 3rd quarter, Holdings Channel reports. The fund owned 17,943 shares of the healthcare product maker’s stock after buying an additional 103 shares during the quarter. Naples Global Advisors LLC’s holdings in Abbott Laboratories were worth $1,953,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its stake in 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 worth $5,846,010,000 after buying an additional 528,871 shares in the last quarter. Morgan Stanley lifted its position in shares of Abbott Laboratories by 11.3% in the 1st quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock worth $2,001,335,000 after purchasing an additional 2,578,161 shares during the period. AXA lifted its position in shares of Abbott Laboratories by 11.6% in the 1st quarter. AXA now owns 526,473 shares of the healthcare product maker’s stock worth $41,544,000 after purchasing an additional 54,800 shares during the period. APG Asset Management N.V. lifted its position in shares of Abbott Laboratories by 176.8% in the 1st quarter. APG Asset Management N.V. now owns 2,011,447 shares of the healthcare product maker’s stock worth $158,723,000 after purchasing an additional 1,284,722 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Abbott Laboratories by 1.3% in the 1st quarter. Clearbridge Investments LLC now owns 53,883 shares of the healthcare product maker’s stock worth $4,252,000 after purchasing an additional 673 shares during the period. Institutional investors own 73.09% of the company’s stock.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the transaction, the executive vice president now directly owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Roger Bird sold 6,290 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 56,630 shares in the company, valued at $6,157,379.90. The disclosure for this sale can be found here. Insiders sold a total of 84,919 shares of company stock worth $9,283,128 over the last ninety days. Insiders own 1.70% of the company’s stock.

ABT has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Abbott Laboratories in a research note on Friday, September 11th. They set an “outperform” rating and a $124.00 price objective for the company. Argus boosted their price objective on shares of Abbott Laboratories from $110.00 to $125.00 in a research note on Thursday, July 23rd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Finally, Goldman Sachs Group set a $94.00 price objective on shares of Abbott Laboratories and gave the stock a “sell” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $115.29.

Shares of ABT stock traded down $0.51 during trading hours on Tuesday, hitting $108.49. The company’s stock had a trading volume of 231,962 shares, compared to its average volume of 4,734,460. The company has a 50 day moving average of $106.61 and a 200 day moving average of $97.89. The stock has a market cap of $190.85 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. 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 has a 12-month low of $61.61 and a 12-month high of $114.19.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

Abbott Laboratories Profile

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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