Future Financial Wealth Managment LLC Makes New $31,000 Investment in Abbott Laboratories (NYSE:ABT)

Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 268 shares of the healthcare product maker’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boltwood Capital Management lifted its position in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares in the last quarter. Atwood & Palmer Inc. lifted its position in shares of Abbott Laboratories by 6.5% in the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after acquiring an additional 90 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Abbott Laboratories by 2.3% in the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after acquiring an additional 91 shares in the last quarter. Hanson & Doremus Investment Management lifted its position in shares of Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after acquiring an additional 92 shares in the last quarter. Finally, Encompass More Asset Management lifted its position in shares of Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays increased their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Piper Sandler assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $125.15.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $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. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE ABT opened at $115.62 on Friday. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. 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 stock has a fifty day simple moving average of $112.93 and a 200-day simple moving average of $108.26. The stock has a market capitalization of $201.14 billion, a PE ratio of 36.02, a PEG ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is presently 68.54%.

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.