EverSource Wealth Advisors LLC Purchases 1,109 Shares of Abbott Laboratories (NYSE:ABT)

EverSource Wealth Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,923 shares of the healthcare product maker’s stock after buying an additional 1,109 shares during the period. EverSource Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,956,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at $28,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the third quarter valued at about $32,000. Valued Wealth Advisors LLC increased its holdings in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.48 during midday trading on Wednesday, hitting $116.65. 463,066 shares of the company’s stock were exchanged, compared to its average volume of 5,674,912. The stock has a 50-day moving average price of $115.55 and a two-hundred day moving average price of $109.70. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a market cap of $202.32 billion, a P/E ratio of 35.59, a PEG ratio of 2.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% 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 period in the prior year, the business earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABT shares. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer assumed 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. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Mizuho boosted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.