Dynamic Technology Lab Private Ltd Buys 12,522 Shares of Abbott Laboratories (NYSE:ABT)

Dynamic Technology Lab Private Ltd increased its position in shares of Abbott Laboratories (NYSE:ABT) by 146.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,095 shares of the healthcare product maker’s stock after buying an additional 12,522 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Abbott Laboratories were worth $2,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Insight Folios Inc lifted its stake in shares of Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the period. Boltwood Capital Management boosted its holdings in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after buying an additional 89 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares in the last quarter. Silicon Valley Capital Partners lifted its position in shares of Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares during the period. Finally, Atwood & Palmer Inc. boosted its stake in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $117.76 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a 50-day moving average of $115.58 and a 200-day moving average of $109.94. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a market cap of $204.25 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating 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 firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal 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 paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABT shares. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note 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 research report on Monday, October 14th. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.