238,216 Abbott Laboratories $ABT Shares Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group increased its Abbott Laboratories stake by 2,211.2% in the third quarter, buying 238,216 shares and ending the period with 248,989 shares worth about $24.6 million.
• Abbott reported quarterly EPS of $1.42, matching analyst estimates, while revenue rose 14.5% year over year to $13.01 billion, slightly above forecasts.
• The company announced a quarterly dividend of $0.63 per share, equivalent to a 2.3% annualized yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $118.32.

Jefferies Financial Group Inc. raised its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2,211.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,989 shares of the healthcare product maker's stock after purchasing an additional 238,216 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Abbott Laboratories were worth $24,608,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ABT. Manning & Napier Advisors LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at $31,000. Foresight Capital Management Advisors Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Balance Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth about $34,000. Summit Securities Group LLC increased its position in shares of Abbott Laboratories by 41.3% during the second quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker's stock worth $37,000 after acquiring an additional 118 shares in the last quarter. Finally, Addison Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $109.38 on Thursday. The firm has a 50-day moving average of $104.00 and a 200-day moving average of $101.74. The company has a market cap of $189.43 billion, a P/E ratio of 40.81, a P/E/G ratio of 1.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.00. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting analysts' consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The company had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period last year, the firm earned $1.30 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio is currently 94.03%.

Insider Activity at Abbott Laboratories

In related news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the sale, the executive vice president directly owned 100,791 shares of the company's stock, valued at approximately $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Argus cut shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a research report on Tuesday, October 27th. Citigroup lowered their price objective on Abbott Laboratories from $125.00 to $122.00 and set a "buy" rating for the company in a research note on Thursday, October 22nd. Wells Fargo & Company raised their target price on Abbott Laboratories from $112.00 to $119.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. UBS Group dropped their target price on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Finally, TD Cowen cut their target price on Abbott Laboratories from $135.00 to $118.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott's offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.

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