Abbott Laboratories (NYSE:ABT) Stock Position Raised by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,978 shares of the healthcare product maker’s stock after buying an additional 1,389 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Abbott Laboratories were worth $4,900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Zurich Insurance Group Ltd FI acquired a new position in Abbott Laboratories during the first quarter worth $2,160,000. Captrust Financial Advisors boosted its stake in shares of Abbott Laboratories by 2.9% during the 1st quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock worth $51,640,000 after acquiring an additional 12,847 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at about $2,506,000. Industrial Alliance Investment Management Inc. raised its stake in shares of Abbott Laboratories by 2.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 4,543 shares of the healthcare product maker’s stock valued at $516,000 after acquiring an additional 120 shares in the last quarter. Finally, Icon Wealth Advisors LLC boosted its position in Abbott Laboratories by 28.1% during the first quarter. Icon Wealth Advisors LLC now owns 55,031 shares of the healthcare product maker’s stock worth $6,255,000 after purchasing an additional 12,068 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

Shares of Abbott Laboratories stock opened at $117.76 on Monday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The firm has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. 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 company’s fifty day moving average price is $115.58 and its two-hundred day moving average price is $109.94.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during 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 company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. UBS Group boosted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Raymond James restated a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently 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.