Centaurus Financial Inc. Has $438,000 Stake in Abbott Laboratories (NYSE:ABT)

Centaurus Financial Inc. boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,844 shares of the healthcare product maker’s stock after purchasing an additional 434 shares during the quarter. Centaurus Financial Inc.’s holdings in Abbott Laboratories were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after buying an additional 2,711,586 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Abbott Laboratories by 8.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock valued at $761,996,000 after purchasing an additional 524,683 shares in the last quarter. Finally, Swiss National Bank raised its position in Abbott Laboratories by 0.5% in the 3rd quarter. Swiss National Bank now owns 5,163,580 shares of the healthcare product maker’s stock valued at $588,700,000 after purchasing an additional 26,000 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Oppenheimer initiated coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Raymond James reissued a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $117.95 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $204.58 billion, a P/E ratio of 35.85, a PEG ratio of 2.77 and a beta of 0.72. The business has a 50-day moving average of $115.59 and a 200-day moving average of $110.13. Abbott Laboratories has a 1 year low of $99.71 and a 1 year 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, beating analysts’ consensus estimates of $1.20 by $0.01. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared 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 was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) 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.