Abbott Laboratories (NYSE:ABT) Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 160.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,926 shares of the healthcare product maker’s stock after acquiring an additional 4,884 shares during the period. Concentric Capital Strategies LP’s holdings in Abbott Laboratories were worth $904,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BDF Gestion acquired a new stake in Abbott Laboratories in the second quarter valued at $7,651,000. Simplify Asset Management Inc. increased its holdings in shares of Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Dundas Partners LLP lifted its stake in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares in the last quarter. Finally, MONECO Advisors LLC increased its stake in Abbott Laboratories by 110.1% in the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after purchasing an additional 16,325 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABT. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Raymond James reissued a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. 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 note on Tuesday, October 1st. Finally, Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Stock Down 1.7 %

ABT stock opened at $116.81 on Tuesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a fifty day moving average of $115.87 and a 200-day moving average of $110.43. The stock has a market capitalization of $202.60 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced 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 company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

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.