Worth Financial Advisory Group LLC Has $728,000 Position in Abbott Laboratories (NYSE:ABT)

Worth Financial Advisory Group LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,389 shares of the healthcare product maker’s stock after buying an additional 361 shares during the period. Worth Financial Advisory Group LLC’s holdings in Abbott Laboratories were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Abbott Laboratories by 3.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,331,760 shares of the healthcare product maker’s stock worth $606,008,000 after purchasing an additional 172,465 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in Abbott Laboratories by 441.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,625 shares of the healthcare product maker’s stock valued at $298,000 after buying an additional 2,140 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 30,876 shares of the healthcare product maker’s stock worth $3,509,000 after acquiring an additional 318 shares during the period. Albion Financial Group UT boosted its position in shares of Abbott Laboratories by 1,272.5% during the 1st quarter. Albion Financial Group UT now owns 30,071 shares of the healthcare product maker’s stock worth $3,418,000 after acquiring an additional 27,880 shares in the last quarter. Finally, Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was 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 at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $114.07 on Tuesday. The stock has a market cap of $198.44 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The company’s fifty day moving average is $114.68 and its 200 day moving average is $108.67.

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, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company 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 $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.