Financial Management Professionals Inc. Purchases 169 Shares of Abbott Laboratories (NYSE:ABT)

Financial Management Professionals Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 31.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 700 shares of the healthcare product maker’s stock after purchasing an additional 169 shares during the period. Financial Management Professionals Inc.’s holdings in Abbott Laboratories were worth $80,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ABT. Amarillo National Bank boosted its stake in shares of Abbott Laboratories by 7.6% during the 3rd quarter. Amarillo National Bank now owns 2,306 shares of the healthcare product maker’s stock worth $263,000 after acquiring an additional 163 shares during the period. Goldstein Advisors LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $257,000. Clear Harbor Asset Management LLC boosted its position in Abbott Laboratories by 3.2% during the third quarter. Clear Harbor Asset Management LLC now owns 52,381 shares of the healthcare product maker’s stock worth $5,972,000 after purchasing an additional 1,605 shares during the period. Smith Salley Wealth Management increased its holdings in shares of Abbott Laboratories by 2.6% in the third quarter. Smith Salley Wealth Management now owns 170,650 shares of the healthcare product maker’s stock valued at $19,456,000 after purchasing an additional 4,253 shares during the last quarter. Finally, Mattern Capital Management LLC raised its position in shares of Abbott Laboratories by 0.3% in the third quarter. Mattern Capital Management LLC now owns 70,608 shares of the healthcare product maker’s stock valued at $8,050,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $114.22 on Friday. The business has a fifty day simple moving average of $114.63 and a 200 day simple moving average of $108.67. The company has a market cap of $198.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly 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 company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories 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.