Abbott Laboratories (NYSE:ABT) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,464 shares of the healthcare product maker’s stock after acquiring an additional 469 shares during the period. Pittenger & Anderson Inc.’s holdings in Abbott Laboratories were worth $10,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $404,000. Larson Financial Group LLC raised its holdings in shares of Abbott Laboratories by 264.0% during the first quarter. Larson Financial Group LLC now owns 5,969 shares of the healthcare product maker’s stock worth $678,000 after purchasing an additional 4,329 shares during the period. TFB Advisors LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at about $249,000. Avidian Wealth Solutions LLC grew its position in shares of Abbott Laboratories by 8.3% during the 1st quarter. Avidian Wealth Solutions LLC now owns 9,845 shares of the healthcare product maker’s stock valued at $1,119,000 after buying an additional 752 shares during the last quarter. Finally, Catalina Capital Group LLC raised its stake in Abbott Laboratories by 117.4% during the first quarter. Catalina Capital Group LLC now owns 4,453 shares of the healthcare product maker’s stock worth $506,000 after acquiring an additional 2,405 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock opened at $117.65 on Tuesday. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The firm has a 50-day moving average of $115.03 and a two-hundred day moving average of $108.95. The firm has a market capitalization of $204.06 billion, a PE ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. On average, analysts forecast 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. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABT shares. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Mizuho lifted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories 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.