Abbott Laboratories $ABT Position Increased by Calamos Advisors LLC

Calamos Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 248,101 shares of the healthcare product maker’s stock after buying an additional 5,033 shares during the period. Calamos Advisors LLC’s holdings in Abbott Laboratories were worth $24,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after purchasing an additional 6,769,518 shares during the last quarter. State Street Corp increased its position in Abbott Laboratories by 1.7% during the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after buying an additional 1,350,766 shares during the last quarter. Bank of America Corp DE acquired a new position in Abbott Laboratories during the second quarter worth approximately $1,603,607,000. Deutsche Bank AG raised its stake in Abbott Laboratories by 18.6% in the second quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after buying an additional 2,614,965 shares during the period. Finally, Legal & General Group Plc bought a new stake in Abbott Laboratories in the second quarter valued at approximately $1,082,524,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mary Moreland sold 3,500 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was 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 in the company, valued at $11,691,756. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $3.58 during trading hours on Friday, hitting $110.02. The company had a trading volume of 8,345,115 shares, compared to its average volume of 9,814,218. The firm has a 50-day moving average of $104.04 and a 200 day moving average of $101.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a market cap of $190.38 billion, a PE ratio of 41.05, a PEG ratio of 1.93 and a beta of 0.54. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02.

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

Abbott Laboratories Announces Dividend

The company also recently declared 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 yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ABT shares. Wall Street Zen raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. TD Cowen dropped their price target on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Citigroup cut their price target on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $119.00 to $127.00 in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.32.

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.