Allen Capital Group LLC Purchases 471 Shares of Abbott Laboratories (NYSE:ABT)

Allen Capital Group LLC increased its position in Abbott Laboratories (NYSE:ABT) by 11.1% in the third quarter, Holdings Channel.com reports. The fund owned 4,701 shares of the healthcare product maker’s stock after acquiring an additional 471 shares during the quarter. Allen Capital Group LLC’s holdings in Abbott Laboratories were worth $536,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Swedbank AB bought a new stake in Abbott Laboratories during the first quarter valued at approximately $341,777,000. Massachusetts Financial Services Co. MA lifted its position in Abbott Laboratories by 25.6% during 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 during the last quarter. Sessa Capital IM L.P. bought a new stake in Abbott Laboratories during the second quarter valued at approximately $264,876,000. Assenagon Asset Management S.A. lifted its position in Abbott Laboratories by 493.1% during the second 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 purchasing an additional 1,996,320 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after acquiring an additional 1,667,170 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABT. Piper Sandler boosted their price objective 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. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” 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 data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Stock Up 0.4 %

Shares of NYSE ABT opened at $117.76 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The firm has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. The firm has a fifty day simple moving average of $115.58 and a two-hundred day simple moving average of $109.88.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

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.