Abbott Laboratories (NYSE:ABT) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 38.0% in the third quarter, Holdings Channel reports. The institutional investor owned 42,700 shares of the healthcare product maker’s stock after buying an additional 11,768 shares during the quarter. Avior Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the third quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

Shares of Abbott Laboratories stock opened at $117.10 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $98.95 and a 1-year high of $121.64. The business’s fifty day moving average price is $115.55 and its two-hundred day moving average price is $109.70. The company has a market capitalization of $203.10 billion, a P/E ratio of 35.59, a PEG ratio of 2.73 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.