Cowa LLC Acquires 200 Shares of Abbott Laboratories (NYSE:ABT)

Cowa LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 4.9% in the third quarter, HoldingsChannel reports. The fund owned 4,314 shares of the healthcare product maker’s stock after purchasing an additional 200 shares during the quarter. Cowa LLC’s holdings in Abbott Laboratories were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ABT. Insight Inv LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $29,000. Johnson Midwest Financial LLC boosted its holdings in Abbott Laboratories by 28.7% in the 3rd quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 125 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Abbott Laboratories by 148.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 477 shares of the healthcare product maker’s stock worth $46,000 after buying an additional 285 shares during the period. Finally, Hoese & Co LLP boosted its holdings in Abbott Laboratories by 26.7% in the 3rd quarter. Hoese & Co LLP now owns 570 shares of the healthcare product maker’s stock worth $55,000 after buying an additional 120 shares during the period. Institutional investors own 72.93% of the company’s stock.

Abbott Laboratories Stock Down 1.1 %

Shares of NYSE ABT opened at $111.25 on Wednesday. The firm’s 50-day moving average price is $108.75 and its 200-day moving average price is $105.79. The company has a current ratio of 1.86, a quick ratio of 1.43 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $193.97 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 5.11 and a beta of 0.69. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $130.93.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.83%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, January 12th. Abbott Laboratories’s dividend payout ratio is currently 46.05%.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Barclays upped their target price on shares of Abbott Laboratories from $114.00 to $122.00 in a report on Wednesday, January 4th. Jefferies Financial Group initiated coverage on shares of Abbott Laboratories in a report on Wednesday, October 12th. They issued a “hold” rating and a $110.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 20th. Finally, Mizuho boosted their price target on shares of Abbott Laboratories from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.06.

Insider Activity

In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $97.46, for a total value of $4,873,000.00. Following the sale, the director now directly owns 6,873,500 shares of the company’s stock, valued at approximately $669,891,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John F. Ginascol sold 11,000 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total value of $1,235,520.00. Following the sale, the executive vice president now directly owns 111,912 shares of the company’s stock, valued at approximately $12,569,955.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the sale, the director now directly owns 6,873,500 shares in the company, valued at $669,891,310. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Abbott Laboratories Company Profile

(Get Rating)

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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