AlphaCore Capital LLC Invests $217,000 in Abbott Laboratories (NYSE:ABT)

AlphaCore Capital LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,904 shares of the healthcare product maker’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BDF Gestion purchased a new stake in shares of Abbott Laboratories in the second quarter valued at about $7,651,000. Dundas Partners LLP raised its holdings in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the last quarter. Simplify Asset Management Inc. lifted its position in shares of Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after acquiring an additional 31,720 shares during the last quarter. Finally, MONECO Advisors LLC increased its position in Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $117.57 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a market capitalization of $203.91 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $115.55 and a 200-day simple moving average of $109.80.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories 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.