Aaron Wealth Advisors LLC Has $1.08 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Aaron Wealth Advisors LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 16.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,503 shares of the healthcare product maker’s stock after purchasing an additional 1,329 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,083,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter worth approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $32,000. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ABT shares. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were 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 $25,617,068.19. This trade represents a 0.00 % decrease in their position. 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 insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded up $0.70 during midday trading on Friday, hitting $118.59. 1,197,999 shares of the company traded hands, compared to its average volume of 5,703,920. The stock has a market cap of $206.30 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm’s fifty day moving average price is $113.76 and its 200-day moving average price is $108.47. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 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.