Russell Investments Group Ltd. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 29.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,068,498 shares of the healthcare product maker’s stock after purchasing an additional 467,025 shares during the period. Russell Investments Group Ltd.’s holdings in Abbott Laboratories were worth $110,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heritage Trust Co raised its holdings in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after purchasing an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Abbott Laboratories in the third quarter valued at about $106,000. Winfield Associates Inc. increased its holdings in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares in the last quarter. 71.15% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares in the company, valued at $7,986,429.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,172 shares of company stock worth $27,533,150. 0.76% of the stock is owned by company insiders.

ABT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Friday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Wells Fargo & Co increased their target price on shares of Abbott Laboratories from $57.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Barclays increased their target price on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a report on Monday, October 2nd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $60.24.

Shares of Abbott Laboratories (NYSE ABT) opened at $58.84 on Friday. The company has a market cap of $102,420.00, a P/E ratio of 48.63, a PEG ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a 1 year low of $39.25 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. sell-side analysts predict that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is 87.60%.

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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.

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

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