Austin Private Wealth LLC Purchases 224 Shares of Abbott Laboratories (NYSE:ABT)

Austin Private Wealth LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,614 shares of the healthcare product maker’s stock after purchasing an additional 224 shares during the quarter. Austin Private Wealth LLC’s holdings in Abbott Laboratories were worth $298,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the 2nd quarter valued at approximately $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.1 %

ABT traded down $0.06 during trading on Tuesday, hitting $117.59. 525,282 shares of the company’s stock traded hands, compared to its average volume of 5,702,787. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64. The company’s 50 day simple moving average is $115.03 and its two-hundred day simple moving average is $108.95. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $203.95 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.79 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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 analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. Analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Raymond James reiterated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.

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.