Abbott Laboratories $ABT Stock Acquired by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors increased its Abbott Laboratories stake by 26.9% in the third quarter, adding 27,918 shares to hold 131,561 shares valued at about $13 million.
• Analyst views were mixed, but MarketBeat’s consensus rating remained “Moderate Buy”, with an average price target of $118.32.
• Abbott matched quarterly EPS estimates at $1.42 and reported revenue of $13.01 billion, up 14.5% year over year. It also declared a quarterly dividend of $0.63 per share.

Bryn Mawr Trust Advisors LLC grew its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 26.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,561 shares of the healthcare product maker's stock after purchasing an additional 27,918 shares during the quarter. Bryn Mawr Trust Advisors LLC's holdings in Abbott Laboratories were worth $13,002,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts recently commented on ABT shares. Robert W. Baird boosted their target price on Abbott Laboratories from $121.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Abbott Laboratories from $120.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, October 22nd. Argus cut Abbott Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, October 27th. BTIG Research lowered 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. Finally, Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a "neutral" rating to a "buy" rating and upped their target price for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.32.

Insider Buying and Selling

In related news, EVP Mary Moreland sold 3,500 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value 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 $11,691,756. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $110.02 on Monday. The company has a market cap of $190.55 billion, a P/E ratio of 41.05, a PEG ratio of 1.93 and a beta of 0.54. The firm has a fifty day moving average price of $104.04 and a 200 day moving average price of $101.78. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $132.02.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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. The company had revenue of $13.01 billion for the quarter, compared to analysts' expectations of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. Abbott Laboratories's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company Profile

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.

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