McKinley Carter Wealth Services Inc. bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,688 shares of the healthcare product maker’s stock, valued at approximately $2,838,000.

Several other institutional investors have also recently bought and sold shares of ABT. Ontario Teachers Pension Plan Board increased its position in shares of Abbott Laboratories by 8.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after acquiring an additional 1,762 shares in the last quarter. HRT Financial LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $206,000. American Century Companies Inc. increased its position in shares of Abbott Laboratories by 417.9% during the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after acquiring an additional 4,507,553 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Abbott Laboratories by 0.8% during the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after acquiring an additional 9,229 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $1,793,000. Institutional investors own 72.39% of the company’s stock.

Several equities research analysts recently weighed in on the stock. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, October 18th. Raymond James raised their price target on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Morgan Stanley raised their price target on shares of Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 18th. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $75.22.

In other news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of Abbott Laboratories stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the transaction, the insider now owns 93,321 shares in the company, valued at approximately $6,848,828.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jared Watkin sold 65,000 shares of Abbott Laboratories stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the transaction, the insider now owns 128,640 shares in the company, valued at approximately $9,133,440. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,297 shares of company stock valued at $14,018,743. 0.74% of the stock is currently owned by insiders.

NYSE:ABT opened at $72.04 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a 12 month low of $54.32 and a 12 month high of $74.15. The company has a market capitalization of $126.53 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 2.14 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 2.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

WARNING: This story was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.dailypolitical.com/2018/11/19/38688-shares-in-abbott-laboratories-abt-purchased-by-mckinley-carter-wealth-services-inc.html.

About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Featured Story: Stock Selection – What is cash flow?

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.