PDS Planning Inc Buys 11,334 Shares of Abbott Laboratories (NYSE:ABT)

PDS Planning Inc boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 115,361 shares of the healthcare product maker’s stock after purchasing an additional 11,334 shares during the period. Abbott Laboratories accounts for about 1.2% of PDS Planning Inc’s holdings, making the stock its 20th largest position. PDS Planning Inc’s holdings in Abbott Laboratories were worth $13,152,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Counselors Inc. boosted its holdings in shares of Abbott Laboratories by 1.6% in the first quarter. Financial Counselors Inc. now owns 53,804 shares of the healthcare product maker’s stock valued at $6,115,000 after purchasing an additional 844 shares during the period. Mutual Advisors LLC lifted its holdings in Abbott Laboratories by 7.6% during the first quarter. Mutual Advisors LLC now owns 25,662 shares of the healthcare product maker’s stock worth $2,917,000 after buying an additional 1,809 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Abbott Laboratories during the first quarter worth $404,000. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in Abbott Laboratories by 3.2% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,517 shares of the healthcare product maker’s stock worth $1,195,000 after buying an additional 330 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Abbott Laboratories by 2.8% during the first quarter. Proficio Capital Partners LLC now owns 7,879 shares of the healthcare product maker’s stock worth $896,000 after buying an additional 213 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABT. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Barclays upped their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Mizuho upped their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Trading Up 0.5 %

Shares of NYSE ABT traded up $0.61 during midday trading on Monday, reaching $119.21. 1,246,203 shares of the stock were exchanged, compared to its average volume of 5,706,636. Abbott Laboratories has a twelve month low of $92.43 and a twelve month 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. The company has a 50 day simple moving average of $114.93 and a 200 day simple moving average of $108.86. The stock has a market capitalization of $207.41 billion, a P/E ratio of 36.05, a PEG ratio of 2.67 and a beta of 0.72.

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, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Abbott Laboratories will post 4.67 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 issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.