Osborne Partners Capital Management LLC Buys 381 Shares of Abbott Laboratories (NYSE:ABT)

Osborne Partners Capital Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,891 shares of the healthcare product maker’s stock after acquiring an additional 381 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Abbott Laboratories were worth $13,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. St. Johns Investment Management Company LLC raised its position in Abbott Laboratories by 5.1% during the 3rd quarter. St. Johns Investment Management Company LLC now owns 11,061 shares of the healthcare product maker’s stock valued at $1,261,000 after purchasing an additional 537 shares in the last quarter. BKM Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 6.4% in the third quarter. BKM Wealth Management LLC now owns 19,843 shares of the healthcare product maker’s stock valued at $2,262,000 after acquiring an additional 1,195 shares in the last quarter. Parcion Private Wealth LLC lifted its stake in Abbott Laboratories by 9.4% in the third quarter. Parcion Private Wealth LLC now owns 66,026 shares of the healthcare product maker’s stock worth $7,528,000 after acquiring an additional 5,696 shares during the period. Lyell Wealth Management LP grew its holdings in Abbott Laboratories by 2.9% during the 3rd quarter. Lyell Wealth Management LP now owns 57,710 shares of the healthcare product maker’s stock worth $6,579,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Abbott Laboratories by 10.3% in the 3rd quarter. Allworth Financial LP now owns 262,583 shares of the healthcare product maker’s stock valued at $29,937,000 after purchasing an additional 24,579 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 2.0 %

Shares of Abbott Laboratories stock opened at $114.22 on Friday. The firm has a market capitalization of $198.70 billion, a price-to-earnings ratio of 35.58, a PEG 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 firm’s 50 day simple moving average is $114.63 and its two-hundred day simple moving average is $108.70. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during 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%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. Analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Morgan Stanley raised their price objective 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. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.67.

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.