Montag A & Associates Inc. Raises Position in Abbott Laboratories (NYSE:ABT)

Montag A & Associates Inc. lifted its position in Abbott Laboratories (NYSE:ABTFree Report) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 126,618 shares of the healthcare product maker’s stock after acquiring an additional 11,126 shares during the period. Montag A & Associates Inc.’s holdings in Abbott Laboratories were worth $12,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in Abbott Laboratories by 104,649.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after acquiring an additional 30,218,560 shares during the period. Norges Bank purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth about $1,893,715,000. Morgan Stanley increased its position in Abbott Laboratories by 14.3% during the 4th quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock worth $4,278,132,000 after purchasing an additional 4,886,954 shares in the last quarter. Bank of Montreal Can bought a new position in Abbott Laboratories during the second quarter worth $368,418,000. Finally, Capital International Investors increased its holdings in shares of Abbott Laboratories by 4.9% during the second quarter. Capital International Investors now owns 59,178,607 shares of the healthcare product maker’s stock valued at $6,451,127,000 after purchasing an additional 2,747,652 shares during the period. Institutional investors own 73.70% of the company’s stock.

Insider Activity

In other news, EVP Andrea F. Wainer sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $108.00, for a total value of $1,620,000.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,022,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Andrea F. Wainer sold 15,000 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $108.00, for a total value of $1,620,000.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,022,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Raymond James lifted their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Barclays increased their target price on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Wells Fargo & Company boosted their target price on Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Finally, Citigroup increased their price objective on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Get Our Latest Report on ABT

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.40 on Monday, reaching $112.21. The company’s stock had a trading volume of 2,525,431 shares, compared to its average volume of 5,365,553. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $115.83. The company has a market capitalization of $194.80 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 2.69 and a beta of 0.75. The stock’s fifty day simple moving average is $110.62 and its 200-day simple moving average is $103.90. The company has a current ratio of 1.74, a quick ratio of 1.23 and a debt-to-equity ratio of 0.38.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Abbott Laboratories had a return on equity of 20.84% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. Analysts forecast that Abbott Laboratories will post 4.61 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.55 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.20 annualized dividend and a dividend yield of 1.96%. Abbott Laboratories’s dividend payout ratio (DPR) is 67.48%.

About Abbott Laboratories

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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

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