First National Bank of Omaha raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 193,931 shares of the healthcare product maker's stock after buying an additional 5,683 shares during the quarter. Abbott Laboratories comprises 1.4% of First National Bank of Omaha's investment portfolio, making the stock its 11th largest position. First National Bank of Omaha's holdings in Abbott Laboratories were worth $22,110,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Sessa Capital IM L.P. purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at approximately $264,876,000. State Street Corp grew its stake in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. Assenagon Asset Management S.A. raised its holdings in Abbott Laboratories by 493.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker's stock worth $249,508,000 after purchasing an additional 1,996,320 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker's stock valued at $191,515,000 after buying an additional 1,667,170 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.
A number of analysts have recently weighed in on ABT shares. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $130.07.
Read Our Latest Analysis on ABT
Shares of ABT stock opened at $115.60 on Friday. The firm has a market capitalization of $200.50 billion, a PE ratio of 35.14, a P/E/G ratio of 2.73 and a beta of 0.73. The company has a 50 day moving average price of $116.15 and a 200-day moving average price of $110.82. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business earned $1.14 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories's payout ratio is currently 66.87%.
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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