Abbott Laboratories (NYSE:ABT) Shares Bought by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 1,302.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,032 shares of the healthcare product maker’s stock after acquiring an additional 105,902 shares during the quarter. Abbott Laboratories makes up 0.3% of Integrated Investment Consultants LLC’s portfolio, making the stock its 19th biggest position. Integrated Investment Consultants LLC’s holdings in Abbott Laboratories were worth $13,001,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. EntryPoint Capital LLC grew its holdings in Abbott Laboratories by 176.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,014 shares of the healthcare product maker’s stock worth $115,000 after acquiring an additional 647 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Abbott Laboratories by 3.2% during the first quarter. EP Wealth Advisors LLC now owns 40,618 shares of the healthcare product maker’s stock valued at $4,617,000 after buying an additional 1,278 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Abbott Laboratories by 1,143.3% in the 1st quarter. Truvestments Capital LLC now owns 17,418 shares of the healthcare product maker’s stock worth $1,980,000 after acquiring an additional 16,017 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $297,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $2,061,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Transactions at Abbott Laboratories

In related 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 approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $115.93 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $115.54 and its two-hundred day moving average price is $109.74. The stock has a market cap of $201.07 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 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.