Highline Wealth Partners LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 325 shares of the healthcare product maker’s stock, valued at approximately $37,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 8,834,840 shares during the period. Capital International Investors raised its position 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 during the period. Swedbank AB acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $341,777,000. Sessa Capital IM L.P. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $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. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” 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. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Stock Performance

ABT opened at $114.45 on Thursday. The firm has a market cap of $199.13 billion, a PE ratio of 34.79, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $114.79 and a 200-day simple moving average of $108.74. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. As a group, equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

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.