Arlington Capital Management Inc. Takes $210,000 Position in Abbott Laboratories (NYSE:ABT)

Arlington Capital Management Inc. bought a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,841 shares of the healthcare product maker’s stock, valued at approximately $210,000.

Several other institutional investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth $31,000. Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT stock traded up $0.11 during midday trading on Monday, hitting $118.71. The stock had a trading volume of 1,593,778 shares, compared to its average volume of 5,708,268. The firm has a market capitalization of $206.54 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 2.67 and a beta of 0.72. Abbott Laboratories has a 52 week low of $92.43 and a 52 week high of $121.64. The stock has a 50-day simple moving average of $114.93 and a 200 day simple moving average of $108.86. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business earned $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid 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 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Citigroup lifted their price target 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. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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.