Buffington Mohr McNeal cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,650 shares of the healthcare product maker’s stock after selling 345 shares during the quarter. Abbott Laboratories comprises approximately 2.5% of Buffington Mohr McNeal’s portfolio, making the stock its 10th biggest holding. Buffington Mohr McNeal’s holdings in Abbott Laboratories were worth $9,539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. BlackRock Inc. grew its holdings in shares of Abbott Laboratories by 5.2% in the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after acquiring an additional 6,621,486 shares during the last quarter. State Street Corp grew its holdings in shares of Abbott Laboratories by 0.7% in the 1st quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock worth $5,846,010,000 after acquiring an additional 528,871 shares during the last quarter. Morgan Stanley grew its holdings 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 acquiring an additional 2,578,161 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Abbott Laboratories by 29.3% in the 2nd quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock worth $1,146,169,000 after acquiring an additional 2,841,074 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Abbott Laboratories by 3.7% during the second quarter. Nuveen Asset Management LLC now owns 10,100,593 shares of the healthcare product maker’s stock valued at $923,496,000 after buying an additional 359,477 shares in the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.
In related news, SVP Randel William Woodgrift sold 2,500 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $105.28, for a total transaction of $263,200.00. Following the transaction, the senior vice president now directly owns 46,267 shares in the company, valued at $4,870,989.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Roger Bird sold 6,290 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $108.73, for a total value of $683,911.70. Following the transaction, the senior vice president now owns 56,630 shares in the company, valued at $6,157,379.90. The disclosure for this sale can be found here. Insiders have sold a total of 84,919 shares of company stock valued at $9,283,128 in the last three months. 1.70% of the stock is owned by insiders.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08. Abbott Laboratories had a return on equity of 18.30% and a net margin of 10.50%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 3.57 earnings per share for the current year.
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 is Wednesday, October 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.33%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. lifted their price target on Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Bank of America lifted their price target on Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 20th. Credit Suisse Group lowered their price target on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Finally, Stifel Nicolaus lifted their price target on Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $115.29.
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.
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