Pathway Financial Advisers LLC Has $315,000 Position in Abbott Laboratories (NYSE:ABT)

Pathway Financial Advisers LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 99.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765 shares of the healthcare product maker’s stock after buying an additional 1,382 shares during the period. Pathway Financial Advisers LLC’s holdings in Abbott Laboratories were worth $315,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $37,000. Finally, Iron Horse Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 132.0% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 450 shares of the healthcare product maker’s stock valued at $51,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $114.45 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market cap of $199.13 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The stock has a 50-day moving average of $114.79 and a 200-day moving average of $108.74. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64.

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

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 completion of the sale, the chief executive officer now directly 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 legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.