Noesis Capital Mangement Corp Invests $241,000 in Abbott Laboratories (NYSE:ABT)

Noesis Capital Mangement Corp bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,115 shares of the healthcare product maker’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. Massachusetts Financial Services Co. MA lifted its position in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Fisher Asset Management LLC lifted its holdings in Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after buying an additional 585,915 shares during the period. Ameriprise Financial Inc. boosted its position in Abbott Laboratories by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Abbott Laboratories by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after acquiring an additional 1,596,835 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Abbott Laboratories by 8.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock worth $761,996,000 after acquiring an additional 524,683 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on ABT shares. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group lifted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Up 0.8 %

ABT stock opened at $118.96 on Thursday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market cap of $206.33 billion, a PE ratio of 36.16, a P/E/G ratio of 2.78 and a beta of 0.72. The firm’s fifty day moving average is $115.67 and its 200 day moving average is $110.19.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued 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 1.85%. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

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.