Abbott Laboratories (NYSE:ABT) Position Raised by BIP Wealth LLC

BIP Wealth LLC increased its position in Abbott Laboratories (NYSE:ABT) by 50.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,128 shares of the healthcare product maker’s stock after acquiring an additional 1,044 shares during the period. BIP Wealth LLC’s holdings in Abbott Laboratories were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ABT. Capital International Investors grew its holdings in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after purchasing an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after purchasing an additional 1,596,835 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Abbott Laboratories by 8.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock valued at $761,996,000 after purchasing an additional 524,683 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Abbott Laboratories by 0.5% in the third quarter. Swiss National Bank now owns 5,163,580 shares of the healthcare product maker’s stock worth $588,700,000 after purchasing an additional 26,000 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

Shares of NYSE:ABT opened at $117.10 on Wednesday. The company has a 50 day moving average price of $115.55 and a two-hundred day moving average price of $109.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $203.10 billion, a PE ratio of 35.59, a PEG ratio of 2.73 and a beta of 0.72. Abbott Laboratories has a 52 week low of $98.95 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business earned $1.14 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analyst Ratings Changes

A number of research firms recently commented on ABT. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Raymond James restated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average 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.