Nwam LLC Takes $2.35 Million Position in Abbott Laboratories (NYSE:ABT)

Nwam LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 20,597 shares of the healthcare product maker’s stock, valued at approximately $2,348,000.

Other large investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the 3rd quarter worth $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% in the 3rd 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 last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the 2nd quarter worth $32,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

NYSE:ABT opened at $117.76 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company’s 50-day simple moving average is $115.58 and its 200 day simple moving average is $109.88. The firm has a market capitalization of $204.25 billion, a P/E ratio of 35.79, a PEG ratio of 2.76 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

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

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. UBS Group lifted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price 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.