Aureus Asset Management LLC Has $30.73 Million Stake in Abbott Laboratories (NYSE:ABT)

Aureus Asset Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 333.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,531 shares of the healthcare product maker’s stock after purchasing an additional 207,393 shares during the quarter. Abbott Laboratories comprises about 2.0% of Aureus Asset Management LLC’s portfolio, making the stock its 23rd biggest position. Aureus Asset Management LLC’s holdings in Abbott Laboratories were worth $30,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.2 %

Shares of NYSE:ABT opened at $118.77 on Monday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $115.87 and its 200 day simple moving average is $110.43. The firm has a market cap of $206.00 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.79 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the business posted $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.85%. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Mizuho raised their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.