LVW Advisors LLC Acquires 1,893 Shares of Abbott Laboratories (NYSE:ABT)

LVW Advisors LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 31.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,888 shares of the healthcare product maker’s stock after buying an additional 1,893 shares during the period. LVW Advisors LLC’s holdings in Abbott Laboratories were worth $899,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the 1st quarter worth about $30,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday. They set an “outperform” rating and a $130.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research report on Thursday, September 26th. Finally, Piper Sandler initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.15.

Abbott Laboratories Stock Performance

NYSE ABT opened at $116.13 on Friday. The company’s 50 day simple moving average is $113.13 and its two-hundred day simple moving average is $108.35. The stock has a market capitalization of $202.02 billion, a PE ratio of 36.18, a P/E/G ratio of 2.74 and a beta of 0.72. 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 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. Analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.