Abbott Laboratories (NYSE:ABT) is Waters Parkerson & CO. LLC’s 10th Largest Position

Waters Parkerson & CO. LLC boosted its position in Abbott Laboratories (NYSE:ABTFree Report) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 479,607 shares of the healthcare product maker’s stock after buying an additional 1,850 shares during the period. Abbott Laboratories makes up approximately 2.8% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 10th largest holding. Waters Parkerson & CO. LLC’s holdings in Abbott Laboratories were worth $46,450,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ABT. Eley Financial Management Inc boosted its holdings in Abbott Laboratories by 0.9% in the 2nd quarter. Eley Financial Management Inc now owns 10,594 shares of the healthcare product maker’s stock worth $1,155,000 after buying an additional 94 shares during the period. Patriot Investment Management Group Inc. boosted its holdings in Abbott Laboratories by 3.1% in the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock valued at $356,000 after purchasing an additional 96 shares during the period. Camden National Bank boosted its holdings in Abbott Laboratories by 2.1% in the 2nd quarter. Camden National Bank now owns 4,637 shares of the healthcare product maker’s stock valued at $506,000 after purchasing an additional 96 shares during the period. Oxbow Advisors LLC boosted its holdings in Abbott Laboratories by 1.2% in the 2nd quarter. Oxbow Advisors LLC now owns 8,350 shares of the healthcare product maker’s stock valued at $910,000 after purchasing an additional 98 shares during the period. Finally, Shepherd Financial Partners LLC lifted its holdings in shares of Abbott Laboratories by 4.5% during the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock worth $250,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $108.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,022,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,022,916. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group decreased their target price on shares of Abbott Laboratories from $130.00 to $118.00 in a research report on Thursday, October 19th. Morgan Stanley decreased their target price on shares of Abbott Laboratories from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup lifted their target price on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Get Our Latest Stock Analysis on ABT

Abbott Laboratories Stock Performance

Shares of ABT traded down $0.21 during mid-day trading on Monday, hitting $111.60. 216,270 shares of the company traded hands, compared to its average volume of 5,289,346. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.23 and a current ratio of 1.74. The stock has a 50-day moving average price of $110.62 and a two-hundred day moving average price of $103.90. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $115.83. The stock has a market cap of $193.74 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 2.69 and a beta of 0.75.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.84%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 4.61 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.55 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.97%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

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 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.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.