Abbott Laboratories (NYSE:ABT) Shares Bought by Key Financial Inc

Key Financial Inc lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,947 shares of the healthcare product maker’s stock after acquiring an additional 182 shares during the period. Key Financial Inc’s holdings in Abbott Laboratories were worth $2,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. BDF Gestion acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $7,651,000. Dundas Partners LLP boosted its position in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the last quarter. MONECO Advisors LLC increased its position in Abbott Laboratories by 110.1% during the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares during the last quarter. Duality Advisers LP purchased a new position in Abbott Laboratories during the first quarter worth approximately $5,634,000. Finally, Empowered Funds LLC grew its stake in shares of Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after buying an additional 14,215 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the 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 in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Stock Up 4.6 %

NYSE:ABT traded up $5.23 during mid-day trading on Friday, reaching $118.60. The stock had a trading volume of 10,149,305 shares, compared to its average volume of 5,727,483. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company has a market capitalization of $206.35 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.69 and a beta of 0.72. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The stock’s 50 day simple moving average is $114.93 and its two-hundred day simple moving average is $108.84.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the firm earned $1.14 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.