Douglass Winthrop Advisors LLC Acquires 1,389 Shares of Abbott Laboratories (NYSE:ABT)

Douglass Winthrop Advisors LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,978 shares of the healthcare product maker’s stock after acquiring an additional 1,389 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Abbott Laboratories were worth $4,900,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Abbott Laboratories by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after acquiring an additional 508,524 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in Abbott Laboratories by 8.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock worth $761,996,000 after purchasing an additional 524,683 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Morgan Stanley upped 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 report on Thursday, October 17th. UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays raised their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Price Performance

Shares of ABT opened at $117.76 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $204.25 billion, a PE ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72. The stock has a 50 day simple moving average of $115.58 and a 200 day simple moving average of $109.94. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

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.