Abbott Laboratories (NYSE:ABT) Shares Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,735 shares of the healthcare product maker’s stock after acquiring an additional 229 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the second quarter valued at $28,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.87 on Friday, hitting $115.90. The company’s stock had a trading volume of 6,898,605 shares, compared to its average volume of 5,701,520. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a 50 day moving average of $115.53 and a 200-day moving average of $109.49. The company has a market capitalization of $201.02 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. Abbott Laboratories has a 12-month low of $97.64 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. 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 payout ratio is 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.