Abbott Laboratories (NYSE:ABT) Shares Acquired by Mutual Advisors LLC

Mutual Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,231 shares of the healthcare product maker’s stock after acquiring an additional 386 shares during the quarter. Mutual Advisors LLC’s holdings in Abbott Laboratories were worth $2,591,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ABT. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors increased its stake in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Swedbank AB acquired a new position in Abbott Laboratories in the 1st quarter valued at $341,777,000. Sessa Capital IM L.P. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $264,876,000. Finally, Assenagon Asset Management S.A. increased its stake in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after buying an additional 1,996,320 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $114.45 on Thursday. The company’s 50 day simple moving average is $114.79 and its 200 day simple moving average is $108.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 1 year low of $92.43 and a 1 year high of $121.64. The stock has a market capitalization of $199.13 billion, a PE ratio of 34.79, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its 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 13.65% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analysts Set New Price Targets

ABT has been the topic of several recent research reports. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. UBS Group boosted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler increased 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. Finally, Raymond James reiterated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.67.

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.