O ROURKE & COMPANY Inc Raises Stake in Abbott Laboratories (NYSE:ABT)

O ROURKE & COMPANY Inc boosted its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,297 shares of the healthcare product maker’s stock after acquiring an additional 96 shares during the period. O ROURKE & COMPANY Inc’s holdings in Abbott Laboratories were worth $250,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Eagle Bluffs Wealth Management LLC lifted its position in Abbott Laboratories by 18.7% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 11,025 shares of the healthcare product maker’s stock valued at $1,198,000 after acquiring an additional 1,737 shares during the period. Fiduciary Group LLC raised its holdings in Abbott Laboratories by 2.4% in the second quarter. Fiduciary Group LLC now owns 17,543 shares of the healthcare product maker’s stock worth $1,938,000 after buying an additional 419 shares during the last quarter. Varma Mutual Pension Insurance Co raised its holdings in Abbott Laboratories by 4.2% in the second quarter. Varma Mutual Pension Insurance Co now owns 185,885 shares of the healthcare product maker’s stock worth $20,196,000 after buying an additional 7,544 shares during the last quarter. TCG Advisory Services LLC raised its holdings in Abbott Laboratories by 9.0% in the second quarter. TCG Advisory Services LLC now owns 3,474 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 288 shares during the last quarter. Finally, First Interstate Bank raised its holdings in Abbott Laboratories by 9.6% in the second quarter. First Interstate Bank now owns 27,087 shares of the healthcare product maker’s stock worth $2,944,000 after buying an additional 2,376 shares during the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total value of $2,461,856.00. Following the transaction, the executive vice president now owns 53,245 shares of the company’s stock, valued at $5,697,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Joseph J. Manning sold 23,008 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at $5,697,215. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the sale, the director now directly owns 6,873,500 shares in the company, valued at approximately $669,891,310. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABT. Erste Group Bank cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Jefferies Financial Group started 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. Citigroup reduced their price target on shares of Abbott Laboratories from $123.00 to $117.00 in a research note on Wednesday, October 5th. BTIG Research reduced their price target on shares of Abbott Laboratories from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Monday, October 17th. Finally, Mizuho started coverage on shares of Abbott Laboratories in a research note on Wednesday, October 26th. They issued a “neutral” rating and a $105.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Abbott Laboratories Price Performance

Shares of ABT traded up $1.15 during mid-day trading on Thursday, reaching $106.02. The stock had a trading volume of 4,617,639 shares, compared to its average volume of 5,289,895. The firm has a market cap of $184.85 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.96 and a beta of 0.70. Abbott Laboratories has a 12 month low of $93.25 and a 12 month high of $142.60. The business has a fifty day moving average of $100.84 and a 200 day moving average of $106.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.43 and a current ratio of 1.86.

Abbott Laboratories (NYSE:ABTGet Rating) last released its earnings results on Wednesday, October 19th. The healthcare product maker reported $1.15 EPS for the quarter, topping the consensus estimate of $0.94 by $0.21. Abbott Laboratories had a net margin of 17.52% and a return on equity of 27.79%. The firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.65 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that Abbott Laboratories will post 5.21 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, October 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 42.44%.

Abbott Laboratories Company Profile

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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.

See Also

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

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