Abbott Laboratories (NYSE:ABT) Shares Purchased by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,418 shares of the healthcare product maker’s stock after buying an additional 230 shares during the quarter. Abbott Laboratories makes up 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $11,563,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BDF Gestion purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth $7,651,000. Dundas Partners LLP boosted its stake in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the last quarter. Duality Advisers LP purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $5,634,000. Empowered Funds LLC increased its stake in shares of Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after acquiring an additional 14,215 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Abbott Laboratories in the first quarter worth approximately $2,160,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $114.45 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm’s fifty day moving average price is $114.79 and its 200 day moving average price is $108.74. The company has a market capitalization of $199.13 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

About Abbott Laboratories

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.