Abbott Laboratories (NYSE:ABT) Shares Acquired by Coerente Capital Management

Coerente Capital Management lifted its stake in Abbott Laboratories (NYSE:ABT) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,549 shares of the healthcare product maker’s stock after purchasing an additional 635 shares during the period. Abbott Laboratories accounts for 4.7% of Coerente Capital Management’s portfolio, making the stock its 9th largest position. Coerente Capital Management’s holdings in Abbott Laboratories were worth $25,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ABT. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’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 in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT opened at $116.54 on Friday. The company’s 50-day moving average price is $114.46 and its two-hundred day moving average price is $108.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The stock has a market capitalization of $202.74 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.