Abbott Laboratories (NYSE:ABT) Shares Acquired by Coston McIsaac & Partners

Coston McIsaac & Partners boosted its holdings in Abbott Laboratories (NYSE:ABT) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,725 shares of the healthcare product maker’s stock after buying an additional 371 shares during the quarter. Coston McIsaac & Partners’ holdings in Abbott Laboratories were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Vanguard Group Inc. increased its stake in Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares in the last quarter. Capital International Investors raised its holdings in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Abbott Laboratories by 5.0% in 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 boosted its stake in 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 worth $771,940,000 after purchasing an additional 1,596,835 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Abbott Laboratories by 7.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker’s stock worth $721,984,000 after purchasing an additional 452,308 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Stock Down 0.0 %

Shares of ABT traded down $0.04 during trading hours on Wednesday, hitting $116.08. 780,896 shares of the company were exchanged, compared to its average volume of 5,718,343. The firm’s 50 day moving average is $114.31 and its 200-day moving average is $108.56. 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 has a 52 week low of $91.64 and a 52 week high of $121.64. The company has a market cap of $201.94 billion, a PE ratio of 36.17, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

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.