Annex Advisory Services LLC Has $7.96 Million Stake in Abbott Laboratories (NYSE:ABT)

Annex Advisory Services LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,851 shares of the healthcare product maker’s stock after purchasing an additional 3,268 shares during the period. Annex Advisory Services LLC’s holdings in Abbott Laboratories were worth $7,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

Abbott Laboratories stock opened at $116.12 on Friday. 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 has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a fifty day moving average price of $113.13 and a two-hundred day moving average price of $108.33. The firm has a market cap of $202.01 billion, a price-to-earnings ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ABT shares. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Piper Sandler began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $125.15.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.