Abbott Laboratories (NYSE:ABT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 187.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,865 shares of the healthcare product maker’s stock after purchasing an additional 59,915 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Abbott Laboratories were worth $10,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC lifted its position in Abbott Laboratories by 176.3% during the first quarter. EntryPoint Capital LLC now owns 1,014 shares of the healthcare product maker’s stock valued at $115,000 after buying an additional 647 shares in the last quarter. LRI Investments LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $297,000. Alpine Global Management LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $2,061,000. Steel Grove Capital Advisors LLC boosted its position in shares of Abbott Laboratories by 21.1% in the first quarter. Steel Grove Capital Advisors LLC now owns 2,457 shares of the healthcare product maker’s stock worth $279,000 after buying an additional 428 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in Abbott Laboratories by 6.7% during the 1st quarter. Kestra Advisory Services LLC now owns 166,059 shares of the healthcare product maker’s stock worth $18,874,000 after acquiring an additional 10,390 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.4 %

ABT stock opened at $117.57 on Friday. The firm has a market cap of $203.91 billion, a PE ratio of 35.73, a P/E/G ratio of 2.76 and a beta of 0.72. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. 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 firm has a 50 day simple moving average of $115.55 and a 200 day simple moving average of $109.80.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for 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 13.99%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on 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 owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABT. Mizuho raised their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $130.07.

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.