20,597 Shares in Abbott Laboratories (NYSE:ABT) Purchased by Nwam LLC

Nwam LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,597 shares of the healthcare product maker’s stock, valued at approximately $2,348,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new position in Abbott Laboratories in the third quarter valued at about $2,030,000. Studio Investment Management LLC lifted its stake in shares of Abbott Laboratories by 2.5% during the 3rd quarter. Studio Investment Management LLC now owns 7,015 shares of the healthcare product maker’s stock valued at $800,000 after buying an additional 172 shares in the last quarter. Allen Capital Group LLC lifted its stake in shares of Abbott Laboratories by 11.1% during the 3rd quarter. Allen Capital Group LLC now owns 4,701 shares of the healthcare product maker’s stock valued at $536,000 after buying an additional 471 shares in the last quarter. CFS Investment Advisory Services LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $2,042,000. Finally, AlphaCore Capital LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $217,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent research reports. Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Morgan Stanley upped their price target 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. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” 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 set an “overweight” rating and a $131.00 price target on the stock. Finally, Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $117.76 on Friday. The company’s fifty day moving average price is $115.58 and its 200-day moving average price is $109.88. The firm has a market capitalization of $204.25 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.76 and a beta of 0.72. Abbott Laboratories has a one year low of $99.71 and a one year 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.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories 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.