Public Employees Retirement Association of Colorado boosted its position in Abbott Laboratories (NYSE:ABT) by 140.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,201 shares of the healthcare product maker’s stock after buying an additional 428,949 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.05% of Abbott Laboratories worth $31,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. increased its position in shares of Abbott Laboratories by 0.4% in the second quarter. Summit Financial Strategies Inc. now owns 5,207 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 19 shares during the period. Johanson Financial Advisors Inc. increased its position in shares of Abbott Laboratories by 0.5% in the third quarter. Johanson Financial Advisors Inc. now owns 5,214 shares of the healthcare product maker’s stock valued at $222,000 after buying an additional 26 shares during the period. Alpha Windward LLC increased its position in shares of Abbott Laboratories by 0.6% in the third quarter. Alpha Windward LLC now owns 5,147 shares of the healthcare product maker’s stock valued at $218,000 after buying an additional 32 shares during the period. Sabal Trust CO increased its position in shares of Abbott Laboratories by 0.4% in the third quarter. Sabal Trust CO now owns 9,156 shares of the healthcare product maker’s stock valued at $387,000 after buying an additional 34 shares during the period. Finally, Pure Financial Advisors Inc. increased its position in shares of Abbott Laboratories by 0.4% in the third quarter. Pure Financial Advisors Inc. now owns 10,893 shares of the healthcare product maker’s stock valued at $461,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.8696% during mid-day trading on Wednesday, hitting $38.3932. The stock had a trading volume of 1,449,316 shares. The stock’s 50-day moving average price is $39.99 and its 200 day moving average price is $41.00. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.22. The company has a market capitalization of $56.53 billion, a P/E ratio of 41.9140 and a beta of 0.94.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The company earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, analysts predict that Abbott Laboratories will post $2.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were paid a $0.26 dividend. The ex-dividend date was Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.69%. Abbott Laboratories’s payout ratio is 114.29%.

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Several equities research analysts have recently weighed in on ABT shares. Bank of America Corp. reissued a “buy” rating and issued a $50.00 price objective on shares of Abbott Laboratories in a research report on Friday, August 12th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Jefferies Group increased their price objective on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. BTIG Research reissued a “buy” rating and issued a $45.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $47.02.

In other Abbott Laboratories news, Chairman Miles D. White bought 121,456 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was acquired at an average price of $40.45 per share, with a total value of $4,912,895.20. Following the completion of the purchase, the chairman now directly owns 2,802,558 shares of the company’s stock, valued at approximately $113,363,471.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally E. Blount bought 5,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were acquired at an average cost of $39.24 per share, with a total value of $200,124.00. Following the purchase, the director now directly owns 20,143 shares of the company’s stock, valued at $790,411.32. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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