Norway Savings Bank Buys 1,243 Shares of Abbott Laboratories (NYSE:ABT)

Norway Savings Bank increased its holdings in Abbott Laboratories (NYSE:ABT) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,043 shares of the healthcare product maker’s stock after buying an additional 1,243 shares during the quarter. Abbott Laboratories accounts for about 1.5% of Norway Savings Bank’s investment portfolio, making the stock its 13th largest position. Norway Savings Bank’s holdings in Abbott Laboratories were worth $3,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 0.9% during the second quarter. Vanguard Group Inc. now owns 147,844,584 shares of the healthcare product maker’s stock valued at $17,139,623,000 after purchasing an additional 1,276,670 shares in the last quarter. State Street Corp lifted its holdings in Abbott Laboratories by 1.7% during the second quarter. State Street Corp now owns 71,745,046 shares of the healthcare product maker’s stock valued at $8,317,403,000 after purchasing an additional 1,222,298 shares in the last quarter. Capital International Investors lifted its holdings in Abbott Laboratories by 2.6% during the second quarter. Capital International Investors now owns 55,968,342 shares of the healthcare product maker’s stock valued at $6,488,764,000 after purchasing an additional 1,408,600 shares in the last quarter. Morgan Stanley lifted its holdings in Abbott Laboratories by 4.5% during the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after purchasing an additional 1,233,152 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 1.7% during the second quarter. Geode Capital Management LLC now owns 26,437,355 shares of the healthcare product maker’s stock valued at $3,054,988,000 after purchasing an additional 454,618 shares in the last quarter. 72.46% of the stock is currently owned by institutional investors.

In other Abbott Laboratories news, SVP Randel William Woodgrift sold 6,350 shares of the firm’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $129.00, for a total value of $819,150.00. Following the transaction, the senior vice president now owns 50,093 shares in the company, valued at approximately $6,461,997. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Philip P. Boudreau sold 8,000 shares of the firm’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $126.49, for a total value of $1,011,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 182,783 shares of company stock worth $23,066,012 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

ABT has been the topic of several research analyst reports. BTIG Research boosted their target price on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $136.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 21st. Atlantic Securities raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $144.00 target price on the stock in a report on Wednesday, October 27th. Cowen reissued a “buy” rating and issued a $140.00 target price on shares of Abbott Laboratories in a report on Friday, October 8th. Finally, Raymond James boosted their target price on shares of Abbott Laboratories from $128.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Buy” and a consensus price target of $134.94.

Shares of ABT opened at $125.07 on Thursday. The firm has a market capitalization of $221.16 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.68. Abbott Laboratories has a 12-month low of $105.32 and a 12-month high of $131.60. The company has a current ratio of 1.83, a quick ratio of 1.42 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $123.74 and a 200-day moving average price of $120.66.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.46. The company had revenue of $10.93 billion during the quarter, compared to analyst estimates of $9.56 billion. Abbott Laboratories had a net margin of 17.12% and a return on equity of 28.39%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts predict that Abbott Laboratories will post 5.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Friday, October 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, October 14th. This represents a $1.80 annualized dividend and a yield of 1.44%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.67%.

Abbott Laboratories Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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