MBE Wealth Management LLC Acquires 111 Shares of Abbott Laboratories (NYSE:ABT)

MBE Wealth Management LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,126 shares of the healthcare product maker’s stock after buying an additional 111 shares during the period. MBE Wealth Management LLC’s holdings in Abbott Laboratories were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ABT. RFG Advisory LLC raised its stake in Abbott Laboratories by 6.3% in the first quarter. RFG Advisory LLC now owns 13,246 shares of the healthcare product maker’s stock worth $1,506,000 after buying an additional 782 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Abbott Laboratories in the first quarter worth $37,067,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Abbott Laboratories by 72.8% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 375 shares of the healthcare product maker’s stock worth $43,000 after purchasing an additional 158 shares during the last quarter. Austin Private Wealth LLC grew its holdings in Abbott Laboratories by 9.2% in the first quarter. Austin Private Wealth LLC now owns 2,156 shares of the healthcare product maker’s stock worth $240,000 after purchasing an additional 182 shares during the last quarter. Finally, Salvus Wealth Management LLC grew its holdings in Abbott Laboratories by 17.0% in the first quarter. Salvus Wealth Management LLC now owns 4,134 shares of the healthcare product maker’s stock worth $470,000 after purchasing an additional 601 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several analyst reports. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $129.67.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This 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 link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $2.36 during mid-day trading on Monday, hitting $117.03. The company’s stock had a trading volume of 3,433,837 shares, compared to its average volume of 5,720,363. 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 current ratio of 1.68 and a quick ratio of 1.18. The stock has a market cap of $203.59 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.74 and a beta of 0.72. The business’s fifty day moving average is $113.97 and its two-hundred day moving average is $108.48.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s 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. Analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. 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 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.