Cape ANN Savings Bank Has $280,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Cape ANN Savings Bank increased its holdings in Abbott Laboratories (NYSE:ABT) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,453 shares of the healthcare product maker’s stock after purchasing an additional 165 shares during the quarter. Cape ANN Savings Bank’s holdings in Abbott Laboratories were worth $280,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ABT. Boltwood Capital Management increased its stake in Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after purchasing an additional 89 shares during the period. Atwood & Palmer Inc. boosted its position in Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after buying an additional 90 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Abbott Laboratories by 2.3% during the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after acquiring an additional 91 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 92 shares during the period. Finally, Encompass More Asset Management lifted its holdings in Abbott Laboratories by 3.3% in the 2nd quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after buying an additional 96 shares during the period. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday. They set an “outperform” rating and a $130.00 target price on the stock. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Abbott Laboratories Stock Up 1.1 %

NYSE:ABT opened at $114.61 on Wednesday. The firm has a 50-day simple moving average of $112.54 and a two-hundred day simple moving average of $108.18. The firm has a market cap of $199.38 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS. Analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, 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 the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

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.