Abbott Laboratories (NYSE:ABT) Stock Position Boosted by Sivia Capital Partners LLC

Sivia Capital Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,572 shares of the healthcare product maker’s stock after buying an additional 129 shares during the quarter. Sivia Capital Partners LLC’s holdings in Abbott Laboratories were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the 2nd quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter worth about $30,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $31,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABT. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Piper Sandler initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Finally, Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.15.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

Abbott Laboratories stock traded up $0.92 during trading hours on Monday, hitting $117.04. The company had a trading volume of 1,038,575 shares, compared to its average volume of 5,704,831. The firm’s fifty day moving average is $113.13 and its 200-day moving average is $108.30. The firm has a market capitalization of $203.61 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $90.87 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.