Atlanta Consulting Group Advisors LLC Invests $464,000 in Abbott Laboratories (NYSE:ABT)

Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, Holdings Channel reports. The fund purchased 4,074 shares of the healthcare product maker’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in shares of Abbott Laboratories by 45.3% during the first quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock worth $5,936,000 after acquiring an additional 16,300 shares during the period. Hillsdale Investment Management Inc. boosted its stake in Abbott Laboratories by 50.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker’s stock valued at $407,000 after purchasing an additional 1,200 shares during the period. Trustmark National Bank Trust Department increased its position in Abbott Laboratories by 10.5% during the 1st quarter. Trustmark National Bank Trust Department now owns 12,944 shares of the healthcare product maker’s stock worth $1,471,000 after buying an additional 1,229 shares during the period. Rockport Wealth LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $445,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Abbott Laboratories by 27.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 146,882 shares of the healthcare product maker’s stock valued at $16,695,000 after acquiring an additional 32,005 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % 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.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $115.90 on Monday. The company has a market capitalization of $201.02 billion, a PE ratio of 35.23, a P/E/G ratio of 2.73 and a beta of 0.72. 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 50-day moving average price of $115.53 and a two-hundred day moving average price of $109.54. Abbott Laboratories has a 12 month low of $97.64 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results 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. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. Analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $130.07.

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.