MPS Loria Financial Planners LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,272 shares of the healthcare product maker’s stock, valued at approximately $1,038,000. Abbott Laboratories comprises approximately 0.7% of MPS Loria Financial Planners LLC’s holdings, making the stock its 20th biggest position.

Several other large investors have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. increased its position in Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after purchasing an additional 3,241,063 shares in the last quarter. State Street Corp increased its position in Abbott Laboratories by 18.9% during the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares in the last quarter. Capital Research Global Investors increased its position in Abbott Laboratories by 45.7% during the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares in the last quarter. Northern Trust Corp increased its position in Abbott Laboratories by 3.1% during the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after purchasing an additional 809,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Abbott Laboratories by 28.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after purchasing an additional 2,606,404 shares in the last quarter. 71.32% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on ABT shares. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, October 10th. Cowen restated a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Bank of America restated a “buy” rating and issued a $60.00 price target (up previously from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Royal Bank of Canada restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Finally, Jefferies Group restated a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.56.

Shares of Abbott Laboratories (NYSE:ABT) opened at $55.50 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a fifty-two week low of $37.90 and a fifty-two week high of $56.69. The stock has a market capitalization of $95,254.38, a PE ratio of 22.71, a PEG ratio of 2.05 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is presently 83.47%.

In related news, insider Sharon J. Bracken sold 2,188 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now directly owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold a total of 616,332 shares of company stock valued at $33,579,226 in the last quarter. Company insiders own 0.76% of the company’s stock.

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Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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