Gilman Hill Asset Management LLC Boosts Position in Abbott Laboratories (NYSE:ABT)

Gilman Hill Asset Management LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,548 shares of the healthcare product maker’s stock after purchasing an additional 125 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Abbott Laboratories were worth $1,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the last quarter. Capital International Investors lifted its stake in shares of Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares during the last quarter. Swedbank AB purchased a new position in shares of Abbott Laboratories during the 1st quarter worth $341,777,000. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $264,876,000. Finally, Assenagon Asset Management S.A. lifted its position in Abbott Laboratories by 493.1% in 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 buying an additional 1,996,320 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Evercore ISI increased their price target 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. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.15.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction 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 in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.4 %

NYSE:ABT traded up $0.50 during trading hours on Friday, hitting $116.12. The company’s stock had a trading volume of 3,471,291 shares, compared to its average volume of 5,728,511. The stock has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $113.13 and a 200-day moving average of $108.33. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. On average, equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.