Capital Advisors Inc. OK Has $3.71 Million Position in Abbott Laboratories (NYSE:ABT)

Capital Advisors Inc. OK lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,578 shares of the healthcare product maker’s stock after selling 184 shares during the quarter. Capital Advisors Inc. OK’s holdings in Abbott Laboratories were worth $3,714,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. boosted its position in Abbott Laboratories by 3.8% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 43,614 shares of the healthcare product maker’s stock worth $4,972,000 after purchasing an additional 1,616 shares during the period. Roanoke Asset Management Corp NY lifted its position in Abbott Laboratories by 4.3% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 53,108 shares of the healthcare product maker’s stock worth $6,055,000 after acquiring an additional 2,197 shares during the last quarter. Americana Partners LLC boosted its holdings in Abbott Laboratories by 55.7% during the third quarter. Americana Partners LLC now owns 13,661 shares of the healthcare product maker’s stock valued at $1,557,000 after acquiring an additional 4,887 shares during the period. W Advisors LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $211,000. Finally, Values Added Financial LLC lifted its position in shares of Abbott Laboratories by 5.4% during the 3rd quarter. Values Added Financial LLC now owns 2,430 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 124 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 4.6 %

Shares of ABT opened at $118.59 on Friday. The firm has a market capitalization of $206.33 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.69 and a beta of 0.72. Abbott Laboratories has a 52 week low of $92.43 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The business’s fifty day moving average price is $114.93 and its two-hundred day moving average price is $108.84.

Abbott Laboratories (NYSE:ABT) last posted its quarterly 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the firm posted $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, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ABT shares. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

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.