Abbott Laboratories (NYSE:ABT) Position Increased by ASB Consultores LLC

ASB Consultores LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 23.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,346 shares of the healthcare product maker’s stock after acquiring an additional 1,010 shares during the quarter. ASB Consultores LLC’s holdings in Abbott Laboratories were worth $609,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Abbott Laboratories in the first quarter valued at $404,000. Larson Financial Group LLC boosted its stake in Abbott Laboratories by 264.0% during the 1st quarter. Larson Financial Group LLC now owns 5,969 shares of the healthcare product maker’s stock valued at $678,000 after purchasing an additional 4,329 shares during the period. TFB Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $249,000. Avidian Wealth Solutions LLC increased its stake in shares of Abbott Laboratories by 8.3% in the first quarter. Avidian Wealth Solutions LLC now owns 9,845 shares of the healthcare product maker’s stock valued at $1,119,000 after purchasing an additional 752 shares during the period. Finally, Catalina Capital Group LLC boosted its position in shares of Abbott Laboratories by 117.4% during the first quarter. Catalina Capital Group LLC now owns 4,453 shares of the healthcare product maker’s stock worth $506,000 after buying an additional 2,405 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ABT shares. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Evercore ISI raised their price objective 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, Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $117.65 on Tuesday. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64. The stock has a 50-day simple moving average of $115.03 and a 200 day simple moving average of $108.95. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $204.06 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for 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%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

About Abbott Laboratories

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.