Stratos Wealth Partners LTD. Acquires 4,361 Shares of Abbott Laboratories (NYSE:ABT)

Stratos Wealth Partners LTD. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 117,370 shares of the healthcare product maker’s stock after buying an additional 4,361 shares during the period. Stratos Wealth Partners LTD.’s holdings in Abbott Laboratories were worth $13,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Boltwood Capital Management grew its holdings in Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the period. Atwood & Palmer Inc. grew its stake in shares of Abbott Laboratories by 6.5% in the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after purchasing an additional 90 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after purchasing an additional 91 shares during the period. Finally, Hanson & Doremus Investment Management lifted its holdings in Abbott Laboratories by 0.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after buying an additional 92 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 1.3 %

Shares of NYSE:ABT opened at $119.39 on Friday. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64. The stock has a market capitalization of $207.69 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. The stock has a fifty day simple moving average of $113.97 and a two-hundred day simple moving average of $108.52. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

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.