Nikulski Financial Inc. grew its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,016 shares of the healthcare product maker’s stock after buying an additional 224 shares during the period. Nikulski Financial Inc.’s holdings in Abbott Laboratories were worth $1,142,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital International Investors boosted its stake in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Swedbank AB purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $341,777,000. Sessa Capital IM L.P. acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $264,876,000. Finally, Assenagon Asset Management S.A. increased its position in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after acquiring an additional 1,996,320 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ABT. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.
Abbott Laboratories Trading Down 0.8 %
ABT stock traded down $0.88 on Thursday, hitting $113.57. 178,866 shares of the company were exchanged, compared to its average volume of 5,682,340. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The business’s fifty day moving average is $114.79 and its two-hundred day moving average is $108.74. The stock has a market capitalization of $197.60 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 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 13.65%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the business posted $1.14 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.
Insider Activity
In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 sale, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
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.
See Also
- Five stocks we like better than Abbott Laboratories
- With Risk Tolerance, One Size Does Not Fit All
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- What Do S&P 500 Stocks Tell Investors About the Market?
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
- 10 Best Airline Stocks to Buy
- Caterpillar Stock: Market Points to a Buying Opportunity
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.