Abbott Laboratories (ABT) Position Raised by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in Abbott Laboratories (NYSE:ABT) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 773,145 shares of the healthcare product maker’s stock after purchasing an additional 89,561 shares during the quarter. Toronto Dominion Bank’s holdings in Abbott Laboratories were worth $44,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Beach Investment Management LLC. increased its holdings in shares of Abbott Laboratories by 2,161.4% in the second quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock worth $14,708,000 after acquiring an additional 289,197 shares in the last quarter. Autus Asset Management LLC increased its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Autus Asset Management LLC now owns 124,148 shares of the healthcare product maker’s stock worth $6,035,000 after acquiring an additional 752 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Abbott Laboratories by 0.7% in the second quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock worth $600,000 after acquiring an additional 87 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Abbott Laboratories by 4.7% in the second quarter. Synovus Financial Corp now owns 227,271 shares of the healthcare product maker’s stock worth $11,066,000 after acquiring an additional 10,263 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Abbott Laboratories by 33.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 465,309 shares of the healthcare product maker’s stock worth $18,291,000 after acquiring an additional 116,006 shares in the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.

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In related news, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the transaction, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jared Watkin sold 996 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total value of $58,634.52. Following the transaction, the senior vice president now directly owns 69,511 shares of the company’s stock, valued at $4,092,112.57. The disclosure for this sale can be found here. Insiders have sold 124,261 shares of company stock valued at $7,559,987 over the last three months. Insiders own 0.76% of the company’s stock.

ABT stock opened at $59.50 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $106,404.13, a PE ratio of 228.85, a P/E/G ratio of 1.81 and a beta of 1.52. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 430.79%.

ABT has been the subject of several recent analyst reports. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays restated a “buy” rating and issued a $66.00 price target on shares of Abbott Laboratories in a report on Monday, January 8th. BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Leerink Swann restated a “market perform” rating and issued a $68.00 price target (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Morgan Stanley increased their price target on Abbott Laboratories from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $65.47.

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About Abbott Laboratories

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

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