Borer Denton & Associates Inc. Grows Stock Position in Abbott Laboratories (NYSE:ABT)

Borer Denton & Associates Inc. raised its position in Abbott Laboratories (NYSE:ABT) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,253 shares of the healthcare product maker’s stock after buying an additional 1,370 shares during the period. Abbott Laboratories comprises 3.0% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 14th biggest position. Borer Denton & Associates Inc.’s holdings in Abbott Laboratories were worth $8,922,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ABT. Ascent Group LLC boosted its holdings in Abbott Laboratories by 435.6% in the first quarter. Ascent Group LLC now owns 19,133 shares of the healthcare product maker’s stock valued at $2,175,000 after purchasing an additional 15,561 shares during the period. Lavaca Capital LLC lifted its stake in shares of Abbott Laboratories by 4.8% during the first quarter. Lavaca Capital LLC now owns 6,532 shares of the healthcare product maker’s stock valued at $742,000 after buying an additional 301 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $2,160,000. Captrust Financial Advisors raised its holdings in shares of Abbott Laboratories by 2.9% in the 1st quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock worth $51,640,000 after purchasing an additional 12,847 shares during the period. Finally, Kinloch Capital LLC increased its holdings in Abbott Laboratories by 6.3% in the 1st quarter. Kinloch Capital LLC now owns 22,850 shares of the healthcare product maker’s stock valued at $2,597,000 after purchasing an additional 1,354 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABT shares. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Price Performance

ABT stock opened at $117.76 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $204.25 billion, a PE ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72. The firm has a 50 day simple moving average of $115.58 and a two-hundred day simple moving average of $109.91.

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 the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. On average, analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Abbott Laboratories Company 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.