Roanoke Asset Management Corp NY Buys 2,197 Shares of Abbott Laboratories (NYSE:ABT)

Roanoke Asset Management Corp NY increased its stake in Abbott Laboratories (NYSE:ABT) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,108 shares of the healthcare product maker’s stock after purchasing an additional 2,197 shares during the period. Abbott Laboratories accounts for 1.9% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 16th largest holding. Roanoke Asset Management Corp NY’s holdings in Abbott Laboratories were worth $6,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $118.59 on Friday. The firm has a market cap of $206.33 billion, a PE ratio of 36.05, a PEG ratio of 2.69 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The company has a fifty day moving average price of $114.93 and a 200 day moving average price of $108.84.

Abbott Laboratories (NYSE:ABT) last announced 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. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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 transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on ABT shares. 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. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.67.

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.