Investment Management Corp of Ontario Purchases 19,100 Shares of Abbott Laboratories (NYSE:ABT)

Investment Management Corp of Ontario increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 32.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,089 shares of the healthcare product maker’s stock after purchasing an additional 19,100 shares during the period. Investment Management Corp of Ontario’s holdings in Abbott Laboratories were worth $8,903,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the period. Sessa Capital IM L.P. acquired a new position in Abbott Laboratories in the second quarter worth about $264,876,000. Assenagon Asset Management S.A. grew its position in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock valued at $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.0 %

Shares of ABT opened at $116.83 on Tuesday. The business’s 50-day moving average price is $115.87 and its 200-day moving average price is $110.43. The stock has a market cap of $202.64 billion, a PE ratio of 35.50, a P/E/G ratio of 2.79 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Profile

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 company 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.