Austin Private Wealth LLC Raises Stake in Abbott Laboratories (NYSE:ABT)

Austin Private Wealth LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,614 shares of the healthcare product maker’s stock after purchasing an additional 224 shares during the period. Austin Private Wealth LLC’s holdings in Abbott Laboratories were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter worth $32,000. Valued Wealth Advisors LLC grew its stake in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.1 %

NYSE:ABT traded down $0.06 during midday trading on Tuesday, hitting $117.59. The stock had a trading volume of 525,282 shares, compared to its average volume of 5,702,787. The stock has a 50-day moving average of $115.03 and a 200 day moving average of $108.95. The company has a market capitalization of $203.95 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.79 and a beta of 0.72. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABT. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Finally, Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.07.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by company insiders.

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.