Jackson Wealth Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,499 shares of the healthcare product maker’s stock after buying an additional 3,064 shares during the quarter. Jackson Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,690,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares in the last quarter. Northern Trust Corp boosted its position in shares of Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after purchasing an additional 830,610 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
In other news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total value of $1,555,279.48. Following the completion of the transaction, the insider now owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. Insiders have sold 404,569 shares of company stock valued at $22,103,095 in the last quarter. 0.76% of the stock is owned by company insiders.
Abbott Laboratories (NYSE ABT) opened at $59.31 on Monday. The stock has a market capitalization of $103,235.05, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s payout ratio is presently 88.19%.
Several equities research analysts recently weighed in on the company. Leerink Swann restated a “market perform” rating on shares of Abbott Laboratories in a research report on Friday. Barclays restated a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research report on Monday, January 8th. Royal Bank of Canada restated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 2nd. Finally, Evercore ISI started coverage on Abbott Laboratories in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $60.24.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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