HighPoint Advisor Group LLC Acquires New Holdings in Abbott Laboratories (NYSE:ABT)

HighPoint Advisor Group LLC purchased a new stake in Abbott Laboratories (NYSE:ABTFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 138,666 shares of the healthcare product maker’s stock, valued at approximately $15,255,000. Abbott Laboratories makes up about 1.2% of HighPoint Advisor Group LLC’s holdings, making the stock its 17th biggest position.

Other large investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new stake in Abbott Laboratories in the third quarter valued at approximately $16,287,000. Envestnet Asset Management Inc. lifted its holdings in Abbott Laboratories by 30.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after purchasing an additional 853,997 shares during the last quarter. Invesco Ltd. lifted its holdings in Abbott Laboratories by 0.4% during the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after purchasing an additional 20,851 shares during the last quarter. Sargent Investment Group LLC lifted its holdings in Abbott Laboratories by 2.3% during the 3rd quarter. Sargent Investment Group LLC now owns 9,085 shares of the healthcare product maker’s stock valued at $880,000 after purchasing an additional 206 shares during the last quarter. Finally, Pearl River Capital LLC lifted its holdings in Abbott Laboratories by 469.4% during the 3rd quarter. Pearl River Capital LLC now owns 46,024 shares of the healthcare product maker’s stock valued at $4,457,000 after purchasing an additional 37,941 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several research reports. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup reduced their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Get Our Latest Research Report on ABT

Abbott Laboratories Trading Up 0.3 %

Shares of NYSE ABT traded up $0.33 during midday trading on Tuesday, reaching $103.78. The stock had a trading volume of 136,065 shares, compared to its average volume of 5,608,023. The firm has a market cap of $180.54 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The company’s 50 day moving average price is $105.52 and its 200 day moving average price is $110.14.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Abbott Laboratories’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Abbott Laboratories Profile

(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 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.

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

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