Sequoia Financial Advisors LLC Purchases 31,720 Shares of Abbott Laboratories (NYSE:ABT)

Sequoia Financial Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 19.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,764 shares of the healthcare product maker’s stock after purchasing an additional 31,720 shares during the period. Sequoia Financial Advisors LLC’s holdings in Abbott Laboratories were worth $22,091,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BDF Gestion bought a new position in shares of Abbott Laboratories during the second quarter valued at about $7,651,000. Dundas Partners LLP increased its holdings in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the last quarter. Duality Advisers LP purchased a new stake in Abbott Laboratories during the first quarter worth about $5,634,000. Oak Harvest Investment Services increased its holdings in Abbott Laboratories by 32.7% during the first quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock worth $8,371,000 after buying an additional 18,131 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Abbott Laboratories by 40.3% during the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after buying an additional 14,215 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABT. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler lifted their target price 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. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Trading Down 0.8 %

Shares of NYSE ABT traded down $0.91 during mid-day trading on Tuesday, hitting $116.08. The stock had a trading volume of 956,056 shares, compared to its average volume of 5,721,282. The firm has a market cap of $201.94 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business has a 50 day moving average price of $114.16 and a two-hundred day moving average price of $108.52. Abbott Laboratories has a 1 year low of $91.64 and a 1 year 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.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

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.