Mizuho Securities USA LLC Has $12.86 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Mizuho Securities USA LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,823 shares of the healthcare product maker’s stock after selling 21,310 shares during the quarter. Mizuho Securities USA LLC’s holdings in Abbott Laboratories were worth $12,863,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in shares of Abbott Laboratories by 84.5% in the 1st quarter. Intech Investment Management LLC now owns 32,123 shares of the healthcare product maker’s stock valued at $3,651,000 after purchasing an additional 14,715 shares in the last quarter. Acadian Asset Management LLC boosted its position in Abbott Laboratories by 45.3% in the first quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock valued at $5,936,000 after buying an additional 16,300 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 50.4% during the first quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker’s stock worth $407,000 after buying an additional 1,200 shares in the last quarter. Davis R M Inc. lifted its stake in shares of Abbott Laboratories by 0.7% in the 1st quarter. Davis R M Inc. now owns 29,272 shares of the healthcare product maker’s stock valued at $3,327,000 after acquiring an additional 200 shares during the last quarter. Finally, Trustmark National Bank Trust Department grew its position in Abbott Laboratories by 10.5% during the 1st quarter. Trustmark National Bank Trust Department now owns 12,944 shares of the healthcare product maker’s stock worth $1,471,000 after acquiring an additional 1,229 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Finally, Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Trading Up 0.8 %

NYSE ABT opened at $115.90 on Friday. Abbott Laboratories has a 52 week low of $97.64 and a 52 week high of $121.64. The business has a 50 day moving average price of $115.53 and a 200-day moving average price of $109.52. 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 company has a market cap of $201.02 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.72 and a beta of 0.72.

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 firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate 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 was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.