San Luis Wealth Advisors LLC Takes Position in Abbott Laboratories (NYSE:ABT)

San Luis Wealth Advisors LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,445 shares of the healthcare product maker’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the first quarter worth $30,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter valued at $31,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related 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 directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ABT shares. Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday. They issued an “outperform” rating and a $130.00 price target on the stock. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $125.15.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE:ABT opened at $115.62 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a fifty day moving average of $113.04 and a two-hundred day moving average of $108.31. The firm has a market capitalization of $201.17 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. On average, equities analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 69.40%.

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.