AA Financial Advisors LLC Buys 2,380 Shares of Abbott Laboratories (NYSE:ABT)

AA Financial Advisors LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 45.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,605 shares of the healthcare product maker’s stock after purchasing an additional 2,380 shares during the quarter. AA Financial Advisors LLC’s holdings in Abbott Laboratories were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABT. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital International Investors grew its position 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 valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Swedbank AB purchased a new stake in Abbott Laboratories in the first quarter worth $341,777,000. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories during the second quarter worth $264,876,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four equities research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Up 1.3 %

Abbott Laboratories stock opened at $119.39 on Friday. The business has a fifty day moving average price of $113.97 and a 200-day moving average price of $108.50. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The stock has a market capitalization of $207.69 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

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 analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal 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 paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. Abbott Laboratories’s payout ratio is currently 68.54%.

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.