Revolve Wealth Partners LLC Acquires New Stake in Abbott Laboratories (NYSE:ABT)

Revolve Wealth Partners LLC bought a new position in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,172 shares of the healthcare product maker’s stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital International Investors grew its holdings in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the last quarter. Swedbank AB purchased a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $341,777,000. Sessa Capital IM L.P. purchased a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $264,876,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after buying an additional 1,996,320 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABT. Evercore ISI increased their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $129.67.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’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 sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 1.3 %

ABT opened at $119.39 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. The firm’s fifty day moving average is $113.97 and its 200 day moving average is $108.50. The stock has a market cap of $207.69 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the company earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

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.