Stratos Wealth Partners LTD. Has $13.38 Million Holdings in Abbott Laboratories (NYSE:ABT)

Stratos Wealth Partners LTD. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 117,370 shares of the healthcare product maker’s stock after acquiring an additional 4,361 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Abbott Laboratories were worth $13,381,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the 1st quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the second quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $119.39 on Friday. The company has a market capitalization of $207.69 billion, a PE ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. 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 company has a 50 day simple moving average of $113.97 and a two-hundred day simple moving average of $108.52.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. 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. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABT. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Mizuho lifted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories 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.