TruWealth Advisors LLC Has $14.08 Million Position in Abbott Laboratories (NYSE:ABT)

TruWealth Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,522 shares of the healthcare product maker’s stock after purchasing an additional 3,046 shares during the period. TruWealth Advisors LLC’s holdings in Abbott Laboratories were worth $14,083,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the second quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on 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 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ABT shares. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Trading Up 0.1 %

ABT opened at $117.90 on Friday. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The firm has a market cap of $205.10 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm’s fifty day moving average is $113.76 and its two-hundred day moving average is $108.47.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

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.