Abbott Laboratories (NYSE:ABT) Shares Bought by Valued Wealth Advisors LLC

Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 78.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 289 shares of the healthcare product maker’s stock after acquiring an additional 127 shares during the quarter. Valued Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its holdings in shares of Abbott Laboratories by 13.9% in the 3rd quarter. Principal Securities Inc. now owns 32,370 shares of the healthcare product maker’s stock valued at $3,691,000 after buying an additional 3,952 shares during the period. Balanced Wealth Group LLC boosted its stake in Abbott Laboratories by 5.8% in the third quarter. Balanced Wealth Group LLC now owns 3,816 shares of the healthcare product maker’s stock valued at $435,000 after acquiring an additional 209 shares during the period. Reston Wealth Management LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $79,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Abbott Laboratories by 7.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,653 shares of the healthcare product maker’s stock worth $188,000 after purchasing an additional 115 shares during the last quarter. Finally, Nikulski Financial Inc. boosted its position in Abbott Laboratories by 2.3% during the 3rd quarter. Nikulski Financial Inc. now owns 10,016 shares of the healthcare product maker’s stock valued at $1,142,000 after purchasing an additional 224 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABT shares. Raymond James reiterated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Mizuho raised their price target 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. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Sanford C. Bernstein raised their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock traded up $4.60 during trading hours on Friday, hitting $117.97. 1,177,216 shares of the stock traded hands, compared to its average volume of 5,685,355. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $114.82 and a 200 day simple moving average of $108.78. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The company has a market cap of $205.26 billion, a P/E ratio of 34.47, a P/E/G ratio of 2.69 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 20.30%. 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 posted $1.14 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

About Abbott Laboratories

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.