Buffington Mohr McNeal Has $8.37 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Buffington Mohr McNeal trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,428 shares of the healthcare product maker’s stock after selling 6,088 shares during the quarter. Abbott Laboratories comprises about 1.4% of Buffington Mohr McNeal’s investment portfolio, making the stock its 27th largest holding. Buffington Mohr McNeal’s holdings in Abbott Laboratories were worth $8,371,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Abbott Laboratories by 5.6% during the first 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 in the last quarter. Capital International Investors grew its holdings in shares of 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 in the last quarter. Ameriprise Financial Inc. increased its position in shares of Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after purchasing an additional 508,524 shares during the period. Dimensional Fund Advisors LP lifted its position in Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after purchasing an additional 1,596,835 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Abbott Laboratories by 7.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker’s stock worth $721,984,000 after buying an additional 452,308 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

NYSE ABT opened at $117.90 on Friday. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $205.10 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business’s 50-day moving average price is $113.76 and its two-hundred day moving average price is $108.47.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business 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 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s payout ratio is currently 68.54%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley increased 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 report on Thursday. Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, UBS Group raised their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’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 value of $16,492,852.39. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.