Legacy Wealth Management LLC MS Has $2.97 Million Stake in Abbott Laboratories (NYSE:ABT)

Legacy Wealth Management LLC MS grew its holdings in Abbott Laboratories (NYSE:ABT) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,015 shares of the healthcare product maker’s stock after purchasing an additional 186 shares during the period. Abbott Laboratories comprises 1.1% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 25th largest holding. Legacy Wealth Management LLC MS’s holdings in Abbott Laboratories were worth $2,966,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Sessa Capital IM L.P. acquired a new stake in shares of Abbott Laboratories in the second quarter worth $264,876,000. State Street Corp increased its position in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. International Assets Investment Management LLC grew its position in Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after purchasing an additional 1,667,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Abbott Laboratories by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABT shares. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT traded down $0.42 during midday trading on Friday, hitting $113.44. The company had a trading volume of 774,132 shares, compared to its average volume of 5,602,645. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $196.76 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.69 and a beta of 0.73. The firm has a fifty day simple moving average of $116.25 and a 200 day simple moving average of $111.06.

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 business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. On average, analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

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.