Abbott Laboratories (NYSE:ABT) Stock Holdings Lifted by RBO & Co. LLC

RBO & Co. LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,609 shares of the healthcare product maker’s stock after purchasing an additional 1,643 shares during the quarter. Abbott Laboratories accounts for approximately 3.8% of RBO & Co. LLC’s holdings, making the stock its 5th biggest position. RBO & Co. LLC’s holdings in Abbott Laboratories were worth $24,240,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Insight Folios Inc raised its position in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after acquiring an additional 87 shares during the last quarter. Boltwood Capital Management increased its stake in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the last quarter. Silicon Valley Capital Partners lifted its stake in Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after buying an additional 89 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its holdings in Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after buying an additional 90 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $117.95 on Wednesday. The company has a market cap of $204.58 billion, a P/E ratio of 35.85, a PEG ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The business’s 50-day simple moving average is $115.59 and its 200 day simple moving average is $110.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its earnings results 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 net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ABT has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.07.

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.