Abbott Laboratories (NYSE:ABT) Shares Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 11.8% during the third quarter, Holdings Channel reports. The institutional investor owned 4,557 shares of the healthcare product maker’s stock after buying an additional 480 shares during the period. OneAscent Financial Services LLC’s holdings in Abbott Laboratories were worth $519,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of Abbott Laboratories by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock valued at $5,936,000 after buying an additional 16,300 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 50.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker’s stock valued at $407,000 after buying an additional 1,200 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of Abbott Laboratories by 82.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 17,585 shares of the healthcare product maker’s stock valued at $1,999,000 after buying an additional 7,936 shares during the period. MQS Management LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $743,000. Finally, Evermay Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 3.4% during the 1st quarter. Evermay Wealth Management LLC now owns 3,548 shares of the healthcare product maker’s stock valued at $403,000 after buying an additional 117 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

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 stock was 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 owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 1.3 %

NYSE:ABT opened at $117.36 on Tuesday. Abbott Laboratories has a 12-month low of $98.95 and a 12-month high of $121.64. The firm has a market capitalization of $203.56 billion, a P/E ratio of 35.67, a P/E/G ratio of 2.73 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 business has a 50 day simple moving average of $115.55 and a 200 day simple moving average of $109.62.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.87%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several analyst reports. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. 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 price objective for the company. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note 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’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.