325 Shares in Abbott Laboratories (NYSE:ABT) Bought by Highline Wealth Partners LLC

Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 325 shares of the healthcare product maker’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the second quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in Abbott Laboratories during the second quarter valued at about $37,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Abbott Laboratories by 132.0% during the third quarter. Iron Horse Wealth Management LLC now owns 450 shares of the healthcare product maker’s stock valued at $51,000 after buying an additional 256 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.9 %

ABT stock opened at $114.45 on Thursday. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The company has a market cap of $199.13 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business’s 50-day simple moving average is $114.79 and its 200 day simple moving average is $108.74. 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 (NYSE:ABT) last released 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 business 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 13.65%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.14 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

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.