Abbott Laboratories (NYSE:ABT) Stake Raised by 49 Wealth Management LLC

49 Wealth Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 52.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,708 shares of the healthcare product maker’s stock after purchasing an additional 1,270 shares during the quarter. 49 Wealth Management LLC’s holdings in Abbott Laboratories were worth $423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lathrop Investment Management Corp grew its stake in shares of Abbott Laboratories by 5.4% in the third quarter. Lathrop Investment Management Corp now owns 3,890 shares of the healthcare product maker’s stock worth $443,000 after acquiring an additional 200 shares during the last quarter. Eagle Asset Management Inc. increased its position in Abbott Laboratories by 8.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,044,108 shares of the healthcare product maker’s stock valued at $121,733,000 after acquiring an additional 77,554 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Abbott Laboratories by 11.3% in the third quarter. Pacer Advisors Inc. now owns 165,125 shares of the healthcare product maker’s stock worth $18,826,000 after acquiring an additional 16,812 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its position in Abbott Laboratories by 1,302.6% in the 3rd quarter. Integrated Investment Consultants LLC now owns 114,032 shares of the healthcare product maker’s stock valued at $13,001,000 after buying an additional 105,902 shares during the last quarter. 75.18% of the stock is 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 the business’s stock in a transaction dated 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 1.4 %

Shares of ABT stock opened at $117.57 on Friday. The company has a market capitalization of $203.91 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business’s fifty day moving average is $115.55 and its 200 day moving average is $109.80. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64.

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

Abbott Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories 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.