Archer Investment Corp Has $398,000 Holdings in Abbott Laboratories (NYSE:ABT)

Archer Investment Corp lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,489 shares of the healthcare product maker’s stock after acquiring an additional 104 shares during the quarter. Archer Investment Corp’s holdings in Abbott Laboratories were worth $398,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ABT. Empowered Funds LLC lifted its position in shares of Abbott Laboratories by 6.6% in the 3rd quarter. Empowered Funds LLC now owns 52,371 shares of the healthcare product maker’s stock worth $5,971,000 after acquiring an additional 3,265 shares during the period. Empirical Finance LLC lifted its position in shares of Abbott Laboratories by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 60,360 shares of the healthcare product maker’s stock worth $6,882,000 after acquiring an additional 1,335 shares during the period. Vectors Research Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $1,642,000. CIBC Asset Management Inc lifted its position in shares of Abbott Laboratories by 2.2% in the 3rd quarter. CIBC Asset Management Inc now owns 696,651 shares of the healthcare product maker’s stock worth $79,353,000 after acquiring an additional 14,708 shares during the period. Finally, Broderick Brian C raised its holdings in shares of Abbott Laboratories by 0.3% in the 3rd quarter. Broderick Brian C now owns 115,876 shares of the healthcare product maker’s stock worth $13,211,000 after buying an additional 290 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABT shares. Citigroup raised their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. UBS Group raised their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Finally, Oppenheimer initiated coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, 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 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Abbott Laboratories Trading Up 0.1 %

ABT traded up $0.13 during trading on Friday, reaching $115.16. 86,689 shares of the stock traded hands, compared to its average volume of 5,670,950. The stock has a market capitalization of $199.74 billion, a PE ratio of 35.00, a P/E/G ratio of 2.72 and a beta of 0.72. The stock’s 50-day moving average is $115.49 and its 200 day moving average is $109.43. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $97.64 and a 12 month high of $121.64.

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, beating the consensus estimate 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 for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.