First Merchants Corp grew its stake in Abbott Laboratories (NYSE:ABT) by 28.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,576 shares of the healthcare product maker’s stock after acquiring an additional 18,494 shares during the quarter. First Merchants Corp’s holdings in Abbott Laboratories were worth $4,512,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Dupont Capital Management Corp grew its stake in Abbott Laboratories by 1,633.7% during the 3rd quarter. Dupont Capital Management Corp now owns 191,415 shares of the healthcare product maker’s stock worth $10,214,000 after buying an additional 180,374 shares during the last quarter. SignalPoint Asset Management LLC purchased a new position in Abbott Laboratories during the 3rd quarter worth $323,000. McKinley Carter Wealth Services Inc. purchased a new position in Abbott Laboratories during the 3rd quarter worth $201,000. Public Employees Retirement Association of Colorado grew its stake in Abbott Laboratories by 12.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 853,132 shares of the healthcare product maker’s stock worth $45,523,000 after buying an additional 94,420 shares during the last quarter. Finally, Buffington Mohr McNeal grew its stake in Abbott Laboratories by 2.2% during the 3rd quarter. Buffington Mohr McNeal now owns 72,055 shares of the healthcare product maker’s stock worth $3,990,000 after buying an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.
Several brokerages recently weighed in on ABT. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Friday, September 22nd. Barclays boosted their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. JPMorgan Chase & Co. started coverage on Abbott Laboratories in a research note on Friday, October 6th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Cowen reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.56.
Shares of Abbott Laboratories (ABT) opened at $57.07 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $99,336.09, a PE ratio of 44.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06. Abbott Laboratories has a one year low of $38.25 and a one year high of $57.76.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. equities research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is 83.47%.
In other news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last three months, insiders sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.
Abbott Laboratories Profile
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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).