Abbott Laboratories (NYSE:ABT) Shares Acquired by SFE Investment Counsel

SFE Investment Counsel boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,343 shares of the healthcare product maker’s stock after purchasing an additional 2,453 shares during the quarter. Abbott Laboratories makes up 1.7% of SFE Investment Counsel’s portfolio, making the stock its 18th biggest holding. SFE Investment Counsel’s holdings in Abbott Laboratories were worth $8,248,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $114.07 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The firm has a market capitalization of $198.44 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.74 and a beta of 0.72. The business’s 50-day simple moving average is $114.68 and its 200-day simple moving average is $108.67.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Mizuho raised their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Company 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.