Abbott Laboratories (NYSE:ABT) Shares Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC raised its position in Abbott Laboratories (NYSE:ABT) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,557 shares of the healthcare product maker’s stock after purchasing an additional 480 shares during the period. OneAscent Financial Services LLC’s holdings in Abbott Laboratories were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Abbott Laboratories by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock worth $5,936,000 after acquiring an additional 16,300 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Abbott Laboratories by 50.4% in the first quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker’s stock valued at $407,000 after purchasing an additional 1,200 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Abbott Laboratories by 82.2% in the first quarter. Lake Street Advisors Group LLC now owns 17,585 shares of the healthcare product maker’s stock valued at $1,999,000 after purchasing an additional 7,936 shares in the last quarter. MQS Management LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $743,000. Finally, Evermay Wealth Management LLC boosted its holdings in Abbott Laboratories by 3.4% in the first quarter. Evermay Wealth Management LLC now owns 3,548 shares of the healthcare product maker’s stock valued at $403,000 after purchasing an additional 117 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $117.36 on Tuesday. Abbott Laboratories has a 12 month low of $98.95 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a 50 day simple moving average of $115.55 and a 200-day simple moving average of $109.62. The stock has a market capitalization of $203.56 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. Equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.87%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ABT shares. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Citigroup upped 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. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.