TSG Advice Partners LLC Purchases 5,845 Shares of Abbott Laboratories $ABT

TSG Advice Partners LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,845 shares of the healthcare product maker’s stock, valued at approximately $530,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Abbott Laboratories by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock valued at $8,339,000 after purchasing an additional 10,431 shares during the last quarter. Juncture Wealth Strategies LLC bought a new stake in Abbott Laboratories during the third quarter worth approximately $658,000. Aureus Asset Management LLC grew its position in Abbott Laboratories by 25.0% in the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock worth $34,078,000 after buying an additional 66,422 shares during the last quarter. Thompson Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 786.0% in the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock valued at $1,276,000 after buying an additional 12,474 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at $4,889,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABT. BTIG Research cut their price objective on Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Royal Bank Of Canada decreased their target price on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Wall Street Zen raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their target price for the company from $119.00 to $127.00 in a report on Friday, October 2nd. Finally, Weiss Ratings upgraded Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.32.

Abbott Laboratories Stock Up 3.8%

Abbott Laboratories stock opened at $110.27 on Tuesday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The firm has a market cap of $190.80 billion, a PE ratio of 41.14, a P/E/G ratio of 1.80 and a beta of 0.59. The firm’s 50 day moving average price is $104.23 and its two-hundred day moving average price is $101.99.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.42. The company had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. On average, research analysts predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 94.03%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.