Gillespie Robinson & Grimm Inc. Acquires 17,286 Shares of Abbott Laboratories (NYSE:ABT)

Gillespie Robinson & Grimm Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 201,340 shares of the healthcare product maker’s stock after purchasing an additional 17,286 shares during the period. Abbott Laboratories comprises approximately 2.0% of Gillespie Robinson & Grimm Inc.’s portfolio, making the stock its 26th largest holding. Gillespie Robinson & Grimm Inc.’s holdings in Abbott Laboratories were worth $16,846,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. RB Capital Management LLC lifted its stake in shares of Abbott Laboratories by 267.5% in the 3rd quarter. RB Capital Management LLC now owns 17,839 shares of the healthcare product maker’s stock valued at $1,446,000 after acquiring an additional 12,985 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in Abbott Laboratories by 2.5% in the third quarter. CHICAGO TRUST Co NA now owns 43,770 shares of the healthcare product maker’s stock valued at $3,662,000 after purchasing an additional 1,085 shares during the last quarter. Allworth Financial LP lifted its position in Abbott Laboratories by 66.2% in the third quarter. Allworth Financial LP now owns 7,514 shares of the healthcare product maker’s stock valued at $629,000 after purchasing an additional 2,993 shares during the last quarter. Sequent Asset Management LLC lifted its position in Abbott Laboratories by 6.6% in the third quarter. Sequent Asset Management LLC now owns 9,172 shares of the healthcare product maker’s stock valued at $767,000 after purchasing an additional 565 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Abbott Laboratories by 2.3% in the third quarter. Crossmark Global Holdings Inc. now owns 312,804 shares of the healthcare product maker’s stock valued at $26,172,000 after purchasing an additional 6,975 shares during the last quarter. 73.71% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories stock traded up $0.67 during midday trading on Thursday, reaching $80.17. 159,303 shares of the company’s stock traded hands, compared to its average volume of 4,002,620. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The company has a market cap of $143.23 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The stock has a 50 day moving average of $83.30 and a 200-day moving average of $81.65. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.60%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Several analysts have weighed in on the company. Wells Fargo & Co boosted their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Bank of America reiterated a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a report on Thursday, June 13th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Raymond James upped their price target on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $86.74.

In other news, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the completion of the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at approximately $8,322,860.70. The disclosure for this sale can be found here. Insiders sold a total of 181,497 shares of company stock valued at $15,701,810 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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