Garrison Asset Management LLC Has $4.34 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Garrison Asset Management LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,081 shares of the healthcare product maker’s stock after selling 618 shares during the quarter. Abbott Laboratories makes up 2.2% of Garrison Asset Management LLC’s portfolio, making the stock its 10th largest holding. Garrison Asset Management LLC’s holdings in Abbott Laboratories were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in Abbott Laboratories by 1.6% during the third quarter. QRG Capital Management Inc. now owns 300,920 shares of the healthcare product maker’s stock worth $34,308,000 after purchasing an additional 4,598 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Abbott Laboratories by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 720,740 shares of the healthcare product maker’s stock valued at $82,172,000 after purchasing an additional 15,537 shares during the period. National Pension Service raised its stake in shares of Abbott Laboratories by 14.6% in the 3rd quarter. National Pension Service now owns 3,212,494 shares of the healthcare product maker’s stock worth $366,256,000 after buying an additional 408,586 shares in the last quarter. Silicon Valley Capital Partners lifted its holdings in shares of Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after buying an additional 89 shares during the period. Finally, Cohen Capital Management Inc. grew its holdings in Abbott Laboratories by 16.9% during the third quarter. Cohen Capital Management Inc. now owns 12,629 shares of the healthcare product maker’s stock worth $1,440,000 after acquiring an additional 1,830 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.95 on Monday, hitting $119.55. 1,024,110 shares of the company’s stock were exchanged, compared to its average volume of 5,705,593. 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 52 week low of $92.43 and a 52 week high of $121.64. The stock has a market cap of $208.00 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 2.67 and a beta of 0.72. The stock has a 50-day moving average of $114.93 and a 200-day moving average of $108.86.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The firm 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 firm earned $1.14 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid 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 1.84%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABT. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Evercore ISI increased 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. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $129.67.

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.