Abbott Laboratories (NYSE:ABT) Shares Purchased by Graypoint LLC

Graypoint LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,737 shares of the healthcare product maker’s stock after buying an additional 295 shares during the period. Graypoint LLC’s holdings in Abbott Laboratories were worth $4,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $31,000. Valued Wealth Advisors LLC increased its stake in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories during the 3rd quarter worth approximately $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed 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. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $116.77 on Thursday. Abbott Laboratories has a 12 month low of $92.43 and a 12 month high of $121.64. The firm has a market capitalization of $202.53 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.79 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company’s fifty day moving average price is $115.20 and its 200 day moving average price is $109.08.

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. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s payout ratio is 66.87%.

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.