Carlson Capital Management Has $940,000 Position in Abbott Laboratories (NYSE:ABT)

Carlson Capital Management lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,242 shares of the healthcare product maker’s stock after purchasing an additional 619 shares during the period. Carlson Capital Management’s holdings in Abbott Laboratories were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 0.7 %

Shares of NYSE ABT traded down $0.81 on Tuesday, reaching $117.32. 458,735 shares of the company’s stock traded hands, compared to its average volume of 5,677,566. The business’s 50 day simple moving average is $115.59 and its two-hundred day simple moving average is $110.04. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $203.49 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping 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 business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler Companies began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $130.07.

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.