CFM Wealth Partners LLC Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

CFM Wealth Partners LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,998 shares of the healthcare product maker’s stock after purchasing an additional 134 shares during the quarter. CFM Wealth Partners LLC’s holdings in Abbott Laboratories were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABT. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories during the first quarter worth approximately $30,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the third quarter worth approximately $31,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Trading Down 1.0 %

Shares of NYSE ABT opened at $116.04 on Wednesday. Abbott Laboratories has a twelve month low of $90.87 and a twelve month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $113.44 and a 200-day simple moving average of $108.34. The stock has a market capitalization of $201.87 billion, a PE ratio of 36.15, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business 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 1.90%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Oppenheimer initiated coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.54.

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.