Loomis Sayles & Co. L P Has $11.30 Million Position in Abbott Laboratories (NYSE:ABT)

Loomis Sayles & Co. L P grew its holdings in Abbott Laboratories (NYSE:ABT) by 47.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,116 shares of the healthcare product maker’s stock after purchasing an additional 32,021 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Abbott Laboratories were worth $11,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Abbott Laboratories by 146.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 21,095 shares of the healthcare product maker’s stock worth $2,405,000 after purchasing an additional 12,522 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in shares of Abbott Laboratories by 3.3% in the third quarter. Douglass Winthrop Advisors LLC now owns 42,978 shares of the healthcare product maker’s stock valued at $4,900,000 after acquiring an additional 1,389 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Abbott Laboratories by 12.2% in the third quarter. Daiwa Securities Group Inc. now owns 219,229 shares of the healthcare product maker’s stock worth $24,995,000 after acquiring an additional 23,834 shares during the period. Finally, Hartford Funds Management Co LLC raised its holdings in shares of Abbott Laboratories by 4.2% in the 3rd quarter. Hartford Funds Management Co LLC now owns 4,985 shares of the healthcare product maker’s stock worth $568,000 after purchasing an additional 200 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 0.8 %

NYSE ABT opened at $118.96 on Thursday. 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 stock’s 50-day simple moving average is $115.67 and its two-hundred day simple moving average is $110.19. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a market capitalization of $206.33 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.78 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABT. Raymond James restated 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. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.07.

About Abbott Laboratories

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.