Studio Investment Management LLC Purchases 172 Shares of Abbott Laboratories (NYSE:ABT)

Studio Investment Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,015 shares of the healthcare product maker’s stock after acquiring an additional 172 shares during the quarter. Studio Investment Management LLC’s holdings in Abbott Laboratories were worth $800,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BDF Gestion acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $7,651,000. Simplify Asset Management Inc. grew its position in shares of Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after buying an additional 5,664 shares during the period. Dundas Partners LLP lifted its holdings in Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after buying an additional 6,897 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Abbott Laboratories by 19.6% in 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 grew its holdings 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 acquiring an additional 16,325 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

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 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 $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

ABT stock opened at $117.57 on Friday. The stock has a 50-day moving average price of $115.55 and a two-hundred day moving average price of $109.80. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The stock has a market cap 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.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Equities 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. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group upped their target price 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. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.