New Century Financial Group LLC Buys 178 Shares of Abbott Laboratories (NYSE:ABT)

New Century Financial Group LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,014 shares of the healthcare product maker’s stock after acquiring an additional 178 shares during the quarter. New Century Financial Group LLC’s holdings in Abbott Laboratories were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new stake in Abbott Laboratories in the second quarter worth approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.3 %

NYSE ABT opened at $119.39 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. The firm has a market capitalization of $207.69 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The company has a fifty day moving average of $113.97 and a two-hundred day moving average of $108.50.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. 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 68.54%.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABT shares. Jefferies Financial Group increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories 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.