Today, Outfitter Advisors LTD. Holds Position in Abbott Laboratories (ABT)

Today, Outfitter Advisors LTD. Holds Position in Abbott Laboratories (ABT)
Outfitter Advisors LTD. maintained its stake in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,633 shares of the healthcare product maker’s stock at the end of the third quarter. Outfitter Advisors LTD.’s holdings in Abbott Laboratories were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABT. Parasol Investment Management LLC boosted its stake in shares of Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC boosted its stake in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $120,000. Finally, Bellwether Investment Group LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 72.33% of the company’s stock.

Abbott Laboratories (NYSE:ABT) traded up 0.46% on Friday, hitting $39.16. The stock had a trading volume of 2,733,423 shares. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.22. The company has a market capitalization of $57.66 billion, a price-to-earnings ratio of 42.75 and a beta of 0.94. The firm has a 50-day moving average of $40.11 and a 200 day moving average of $40.95.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 114.29%.

A number of equities analysts have issued reports on ABT shares. BTIG Research restated a “buy” rating and set a $45.00 price target on shares of Abbott Laboratories in a report on Wednesday, August 10th. Jefferies Group cut their price target on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. Argus restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, July 28th. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Finally, Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, September 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.02.

In related news, Director Sally E. Blount bought 5,100 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were acquired at an average cost of $39.24 per share, with a total value of $200,124.00. Following the completion of the acquisition, the director now owns 20,143 shares of the company’s stock, valued at approximately $790,411.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Miles D. White bought 121,456 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was bought at an average cost of $40.45 per share, for a total transaction of $4,912,895.20. Following the completion of the acquisition, the chairman now directly owns 2,802,558 shares of the company’s stock, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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