Abbott Laboratories (NYSE:ABT) Shares Acquired by Invesco LLC

Invesco LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,256 shares of the healthcare product maker’s stock after acquiring an additional 614 shares during the quarter. Invesco LLC’s holdings in Abbott Laboratories were worth $1,055,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Fullcircle Wealth LLC raised its position in Abbott Laboratories by 1.0% during the third quarter. Fullcircle Wealth LLC now owns 13,957 shares of the healthcare product maker’s stock worth $1,592,000 after acquiring an additional 135 shares during the period. VELA Investment Management LLC raised its position in Abbott Laboratories by 38.7% during the third quarter. VELA Investment Management LLC now owns 34,439 shares of the healthcare product maker’s stock worth $3,926,000 after acquiring an additional 9,608 shares during the period. BluePath Capital Management LLC raised its position in Abbott Laboratories by 25.5% during the third quarter. BluePath Capital Management LLC now owns 7,479 shares of the healthcare product maker’s stock worth $853,000 after acquiring an additional 1,520 shares during the period. Phillips Wealth Planners LLC raised its position in Abbott Laboratories by 4.0% during the third quarter. Phillips Wealth Planners LLC now owns 7,644 shares of the healthcare product maker’s stock worth $901,000 after acquiring an additional 297 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Abbott Laboratories by 12.5% during the third quarter. Farther Finance Advisors LLC now owns 20,714 shares of the healthcare product maker’s stock worth $2,361,000 after acquiring an additional 2,308 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 4.6 %

Shares of ABT stock traded up $5.23 during trading hours on Friday, hitting $118.60. The company had a trading volume of 10,149,305 shares, compared to its average volume of 5,727,483. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market capitalization of $206.35 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.69 and a beta of 0.72. The company’s fifty day moving average is $114.93 and its 200 day moving average is $108.84. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% 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 period last year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories 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 $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group increased their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Company 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.