November 10, 2019 at 7:09 pm

Parkside Financial Bank & Trust Boosts Stake in Abbott Laboratories (NYSE:ABT)

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Parkside Financial Bank & Trust lifted its holdings in Abbott Laboratories (NYSE:ABT) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,683 shares of the healthcare product maker’s stock after buying an additional 694 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Abbott Laboratories were worth $1,145,000 as of its most recent SEC filing.

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Other institutional investors have also bought and sold shares of the company. Cumberland Partners Ltd boosted its position in Abbott Laboratories by 25.0% during the second quarter. Cumberland Partners Ltd now owns 4,500 shares of the healthcare product maker’s stock worth $378,000 after purchasing an additional 900 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 91.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock worth $122,138,000 after purchasing an additional 694,262 shares in the last quarter. Cypress Capital Management LLC boosted its position in Abbott Laboratories by 2.0% during the second quarter. Cypress Capital Management LLC now owns 203,419 shares of the healthcare product maker’s stock worth $17,108,000 after purchasing an additional 4,000 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Abbott Laboratories by 3.8% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after purchasing an additional 116 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in Abbott Laboratories by 20.7% during the second quarter. Cresset Asset Management LLC now owns 29,187 shares of the healthcare product maker’s stock worth $2,455,000 after purchasing an additional 5,012 shares in the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.

A number of analysts have commented on ABT shares. Cowen boosted their target price on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Wednesday, August 21st. William Blair restated an “underperform” rating on shares of Abbott Laboratories in a research report on Thursday, October 17th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.61.

Abbott Laboratories stock traded up $0.35 during trading on Friday, hitting $83.74. The company’s stock had a trading volume of 3,388,511 shares, compared to its average volume of 5,339,424. The stock has a market capitalization of $145.61 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.38 and a beta of 1.13. The stock’s fifty day moving average is $82.03 and its 200 day moving average is $82.26. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.54.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 3.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.28 annualized dividend and a yield of 1.53%. Abbott Laboratories’s payout ratio is currently 44.44%.

In related news, SVP Randel William Woodgrift sold 21,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now directly owns 68,562 shares in the company, valued at $5,521,983.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. Corporate 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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