MBA Advisors LLC Acquires 95 Shares of Abbott Laboratories (NYSE:ABT)

MBA Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,805 shares of the healthcare product maker’s stock after buying an additional 95 shares during the quarter. MBA Advisors LLC’s holdings in Abbott Laboratories were worth $434,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Abbott Laboratories by 3.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,331,760 shares of the healthcare product maker’s stock valued at $606,008,000 after acquiring an additional 172,465 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Abbott Laboratories by 441.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,625 shares of the healthcare product maker’s stock worth $298,000 after purchasing an additional 2,140 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Abbott Laboratories by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 30,876 shares of the healthcare product maker’s stock valued at $3,509,000 after buying an additional 318 shares during the period. Albion Financial Group UT raised its holdings in Abbott Laboratories by 1,272.5% in the 1st quarter. Albion Financial Group UT now owns 30,071 shares of the healthcare product maker’s stock valued at $3,418,000 after buying an additional 27,880 shares during the last quarter. Finally, Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

NYSE ABT opened at $114.22 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The business has a 50 day moving average price of $114.68 and a 200-day moving average price of $108.67. The company has a market cap of $198.70 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABT shares. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.