Abbott Laboratories (NYSE:ABT) Shares Bought by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,664 shares of the healthcare product maker’s stock after purchasing an additional 99 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories during the second quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter worth about $30,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $31,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $116.04 on Wednesday. The company has a market capitalization of $201.87 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.74 and a beta of 0.72. The company has a 50-day moving average of $113.44 and a 200-day moving average of $108.34. Abbott Laboratories has a 52 week low of $90.87 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the company earned $1.08 EPS. Abbott Laboratories’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABT shares. Jefferies Financial Group reissued a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Piper Sandler assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $125.54.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.