PDS Planning Inc Acquires 11,334 Shares of Abbott Laboratories (NYSE:ABT)

PDS Planning Inc lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 10.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,361 shares of the healthcare product maker’s stock after purchasing an additional 11,334 shares during the quarter. Abbott Laboratories accounts for 1.2% of PDS Planning Inc’s investment portfolio, making the stock its 20th largest holding. PDS Planning Inc’s holdings in Abbott Laboratories were worth $13,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in shares of Abbott Laboratories by 1.6% in the 3rd quarter. QRG Capital Management Inc. now owns 300,920 shares of the healthcare product maker’s stock worth $34,308,000 after buying an additional 4,598 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Abbott Laboratories by 2.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 720,740 shares of the healthcare product maker’s stock worth $82,172,000 after buying an additional 15,537 shares during the last quarter. National Pension Service boosted its holdings in shares of Abbott Laboratories by 14.6% in the 3rd quarter. National Pension Service now owns 3,212,494 shares of the healthcare product maker’s stock worth $366,256,000 after buying an additional 408,586 shares during the last quarter. Silicon Valley Capital Partners boosted its holdings in shares of Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after buying an additional 89 shares during the last quarter. Finally, Cohen Capital Management Inc. boosted its holdings in shares of Abbott Laboratories by 16.9% in the 3rd quarter. Cohen Capital Management Inc. now owns 12,629 shares of the healthcare product maker’s stock worth $1,440,000 after buying an additional 1,830 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the chief executive officer now directly owns 220,059 shares in the company, 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 at this link. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.5 %

Shares of NYSE:ABT traded up $0.61 during trading on Monday, hitting $119.21. The stock had a trading volume of 1,246,203 shares, compared to its average volume of 5,706,636. Abbott Laboratories has a 12 month low of $92.43 and a 12 month high of $121.64. The company has a market capitalization of $207.41 billion, a PE ratio of 36.05, a PEG ratio of 2.67 and a beta of 0.72. The firm’s fifty day moving average is $114.93 and its 200 day moving average is $108.86. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ABT shares. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price target 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. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler upped their price objective 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. Finally, Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

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.