J.W. Cole Advisors Inc. Has $2.73 Million Stake in Abbott Laboratories (NYSE:ABT)

J.W. Cole Advisors Inc. grew its position in Abbott Laboratories (NYSE:ABT) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,937 shares of the healthcare product maker’s stock after buying an additional 235 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Abbott Laboratories were worth $2,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the second quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in shares of Abbott Laboratories in the second quarter worth about $37,000. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $114.22 on Monday. The firm’s fifty day simple moving average is $114.63 and its two-hundred day simple moving average is $108.66. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $198.70 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its 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 return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABT shares. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Barclays boosted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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.