Sargent Investment Group LLC Has $5.26 Million Stake in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Sargent Investment Group LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,091 shares of the healthcare product maker’s stock after acquiring an additional 505 shares during the quarter. Abbott Laboratories makes up approximately 0.9% of Sargent Investment Group LLC’s portfolio, making the stock its 29th biggest position. Sargent Investment Group LLC’s holdings in Abbott Laboratories were worth $5,255,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital International Investors increased its position in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Ameriprise Financial Inc. increased its position in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Abbott Laboratories by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after buying an additional 1,596,835 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in Abbott Laboratories by 8.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock valued at $761,996,000 after buying an additional 524,683 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.0 %

ABT traded down $0.03 on Thursday, hitting $115.71. The company had a trading volume of 776,979 shares, compared to its average volume of 5,681,946. Abbott Laboratories has a 52-week low of $96.92 and a 52-week high of $121.64. The stock has a fifty day simple moving average of $115.45 and a 200-day simple moving average of $109.39. The firm has a market capitalization of $200.69 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, equities analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid 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 is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insider Transactions 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 value of $16,492,852.39. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Read Our Latest Report on Abbott Laboratories

About Abbott Laboratories

(Free Report)

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.

Further Reading

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