Global Assets Advisory LLC Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Global Assets Advisory LLC raised its position in Abbott Laboratories (NYSE:ABT) by 22.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,092 shares of the healthcare product maker’s stock after acquiring an additional 760 shares during the quarter. Global Assets Advisory LLC’s holdings in Abbott Laboratories were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABT. BDF Gestion purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $7,651,000. Dundas Partners LLP lifted its position in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $5,634,000. Oak Harvest Investment Services increased its holdings in shares of Abbott Laboratories by 32.7% in the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after acquiring an additional 18,131 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Abbott Laboratories by 40.3% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after acquiring an additional 14,215 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $116.99 on Thursday. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The firm has a market capitalization of $203.52 billion, a PE ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The firm’s 50-day simple moving average is $114.46 and its 200 day simple moving average is $108.62. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James reaffirmed 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. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $129.67.

About Abbott Laboratories

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.