Chicago Partners Investment Group LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 63.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,308 shares of the healthcare product maker’s stock after acquiring an additional 8,286 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Abbott Laboratories were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Cottage Street Advisors LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at $227,000. Brookstone Capital Management raised its holdings in Abbott Laboratories by 29.7% during the 3rd quarter. Brookstone Capital Management now owns 14,717 shares of the healthcare product maker’s stock valued at $1,080,000 after buying an additional 3,373 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Abbott Laboratories by 4.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 403,963 shares of the healthcare product maker’s stock valued at $29,635,000 after buying an additional 17,395 shares during the last quarter. Investment Counselors of Maryland LLC raised its holdings in Abbott Laboratories by 12.0% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 18,135 shares of the healthcare product maker’s stock valued at $1,330,000 after buying an additional 1,950 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Abbott Laboratories by 407.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,643 shares of the healthcare product maker’s stock valued at $414,000 after buying an additional 4,532 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

A number of research firms recently commented on ABT. UBS Group began coverage on shares of Abbott Laboratories in a report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target for the company. Raymond James upped their price target on shares of Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, October 18th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 11th. Wells Fargo & Co upped their price target on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Finally, BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $76.00.

NYSE ABT traded down $1.59 during trading on Friday, hitting $69.95. The company had a trading volume of 7,833,807 shares, compared to its average volume of 6,165,015. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a one year low of $54.33 and a one year high of $74.92. The firm has a market capitalization of $125.65 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.13 and a beta of 1.40.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.

In other news, insider Jared Watkin sold 65,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $71.00, for a total value of $4,615,000.00. Following the sale, the insider now directly owns 128,640 shares of the company’s stock, valued at approximately $9,133,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Miles D. White sold 142,341 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the completion of the sale, the chairman now directly owns 3,459,185 shares in the company, valued at $250,272,034.75. The disclosure for this sale can be found here. Insiders sold a total of 272,273 shares of company stock worth $19,410,942 over the last ninety days. Insiders own 0.74% of the company’s stock.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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