Quadrant Capital Group LLC Purchases 5,705 Shares of Abbott Laboratories $ABT

Quadrant Capital Group LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,392 shares of the healthcare product maker’s stock after purchasing an additional 5,705 shares during the period. Quadrant Capital Group LLC’s holdings in Abbott Laboratories were worth $4,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkway Wealth Management Group LLC lifted its stake in shares of Abbott Laboratories by 3.2% during the 3rd quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock valued at $317,000 after buying an additional 98 shares in the last quarter. St. Johns Investment Management Company LLC boosted its holdings in Abbott Laboratories by 1.0% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after buying an additional 101 shares during the period. AA Financial Advisors LLC increased its stake in Abbott Laboratories by 1.7% in the 3rd quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after buying an additional 101 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in Abbott Laboratories by 1.2% in the 3rd quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock worth $835,000 after buying an additional 102 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. raised its holdings in Abbott Laboratories by 1.1% during the third quarter. Richards Merrill & Peterson Inc. now owns 9,562 shares of the healthcare product maker’s stock valued at $945,000 after acquiring an additional 102 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Key Stories Impacting Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott received the European CE Mark under the EU In Vitro Diagnostic Regulation for Cologuard Plus, its noninvasive, stool-based colorectal cancer screening test. The authorization allows commercialization in select European markets and expands Abbott’s diagnostics portfolio and potential customer base. Abbott Laboratories (ABT) Secures Europe CE Mark For Colorectal Cancer Test
• Positive Sentiment: Reports that President Trump and prominent investors, including billionaire fund managers, bought Abbott stock may provide a modest sentiment boost, although these purchases do not change the company’s fundamentals. Billionaires and Trump Were Buying This Healthcare Stock

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $102.68 on Wednesday. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The company has a market cap of $177.67 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.93 and a beta of 0.59. The firm’s fifty day moving average is $105.68 and its 200 day moving average is $98.30. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.5%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABT. TD Cowen restated a “buy” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Friday, October 16th. Robert W. Baird assumed coverage on Abbott Laboratories in a research report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 target price for the company. Wells Fargo & Company boosted their price target on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Barclays initiated coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.