BBR Partners LLC Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

BBR Partners LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 20.3% during the third quarter, Holdings Channel reports. The firm owned 60,043 shares of the healthcare product maker’s stock after acquiring an additional 10,114 shares during the quarter. Abbott Laboratories makes up about 0.5% of BBR Partners LLC’s investment portfolio, making the stock its 21st biggest position. BBR Partners LLC’s holdings in Abbott Laboratories were worth $6,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Abbott Laboratories by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Abbott Laboratories by 5.0% in the 2nd 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 during the period. Dimensional Fund Advisors LP boosted its stake in shares of Abbott Laboratories by 27.4% during the 2nd 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position 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 buying an additional 524,683 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Stock Up 0.8 %

Abbott Laboratories stock opened at $118.96 on Thursday. The firm has a market cap of $206.33 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.78 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. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The stock has a fifty day simple moving average of $115.67 and a two-hundred day simple moving average of $110.19.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. Equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Raymond James reissued a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.