Abbott Laboratories (NYSE:ABT) Shares Purchased by Baldwin Investment Management LLC

Baldwin Investment Management LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,165 shares of the healthcare product maker’s stock after purchasing an additional 652 shares during the period. Abbott Laboratories comprises about 0.5% of Baldwin Investment Management LLC’s portfolio, making the stock its 29th biggest position. Baldwin Investment Management LLC’s holdings in Abbott Laboratories were worth $3,895,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ABT. Carlson Capital Management increased its stake in Abbott Laboratories by 8.1% during the 3rd quarter. Carlson Capital Management now owns 8,242 shares of the healthcare product maker’s stock worth $940,000 after buying an additional 619 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the third quarter worth $719,000. Shum Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at $1,054,000. J. Stern & Co. LLP boosted its holdings in Abbott Laboratories by 1.3% in the third quarter. J. Stern & Co. LLP now owns 299,133 shares of the healthcare product maker’s stock valued at $34,104,000 after purchasing an additional 3,977 shares during the period. Finally, Avestar Capital LLC increased its holdings in Abbott Laboratories by 12.4% during the 3rd quarter. Avestar Capital LLC now owns 8,843 shares of the healthcare product maker’s stock worth $1,008,000 after purchasing an additional 973 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $117.95 on Wednesday. The firm has a market cap of $204.58 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. 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 has a 1-year low of $99.71 and a 1-year high of $121.64. The firm’s fifty day moving average price is $115.59 and its 200 day moving average price is $110.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. On average, sell-side analysts expect 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 was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays increased their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.