Ethic Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,333 shares of the healthcare product maker’s stock after acquiring an additional 10,876 shares during the period. Ethic Inc.’s holdings in Abbott Laboratories were worth $26,420,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ABT. Buckhead Capital Management LLC lifted its holdings in Abbott Laboratories by 10.6% in the third quarter. Buckhead Capital Management LLC now owns 4,368 shares of the healthcare product maker’s stock worth $432,000 after acquiring an additional 418 shares during the last quarter. StoneX Group Inc. boosted its stake in Abbott Laboratories by 1.2% in the third quarter. StoneX Group Inc. now owns 29,556 shares of the healthcare product maker’s stock valued at $2,923,000 after acquiring an additional 344 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Abbott Laboratories by 49.9% during the third quarter. Pictet Asset Management Holding SA now owns 1,136,883 shares of the healthcare product maker’s stock valued at $112,358,000 after purchasing an additional 378,353 shares during the last quarter. Verus Capital Partners LLC grew its holdings in shares of Abbott Laboratories by 20.9% during the third quarter. Verus Capital Partners LLC now owns 4,283 shares of the healthcare product maker’s stock valued at $423,000 after purchasing an additional 741 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Abbott Laboratories by 3.5% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 7,382 shares of the healthcare product maker’s stock worth $730,000 after purchasing an additional 250 shares during the period. 75.18% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the sale, the executive vice president directly owned 100,791 shares of the company’s stock, valued at $11,691,756. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several analysts recently issued reports on the company. TD Cowen cut their price target on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Wall Street Zen upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. dropped their target price on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Finally, Barclays assumed coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.32.
Abbott Laboratories Trading Down 3.2%
Abbott Laboratories stock opened at $110.02 on Friday. The firm has a 50 day simple moving average of $104.04 and a 200-day simple moving average of $101.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 0.97. The stock has a market capitalization of $190.38 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 1.93 and a beta of 0.54. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The business had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter last year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.
About Abbott Laboratories
Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.
Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.
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