Pinnacle Financial Partners Inc Acquires 3,090 Shares of Abbott Laboratories (NYSE:ABT)

Pinnacle Financial Partners Inc increased its holdings in Abbott Laboratories (NYSE:ABT) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,094 shares of the healthcare product maker’s stock after buying an additional 3,090 shares during the period. Pinnacle Financial Partners Inc’s holdings in Abbott Laboratories were worth $5,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the second quarter valued at about $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Valued Wealth Advisors LLC boosted its position in shares of 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 in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Down 0.6 %

Shares of Abbott Laboratories stock opened at $115.74 on Thursday. The stock’s 50-day moving average is $115.43 and its 200 day moving average is $109.35. Abbott Laboratories has a one year low of $96.20 and a one year high of $121.64. The firm has a market cap of $200.75 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their price target 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. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, UBS Group boosted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Company 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.