Edgestream Partners L.P. Has $1.86 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Edgestream Partners L.P. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,293 shares of the healthcare product maker’s stock after purchasing an additional 306 shares during the quarter. Edgestream Partners L.P.’s holdings in Abbott Laboratories were worth $1,858,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABT has been the topic of several research analyst reports. Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT opened at $116.29 on Wednesday. The company has a market capitalization of $201.70 billion, a P/E ratio of 35.35, a PEG ratio of 2.75 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The business’s 50 day simple moving average is $115.96 and its 200-day simple moving average is $110.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

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.