Integrated Investment Consultants LLC Raises Stock Position in Abbott Laboratories (NYSE:ABT)

Integrated Investment Consultants LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1,302.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,032 shares of the healthcare product maker’s stock after acquiring an additional 105,902 shares during the quarter. Abbott Laboratories comprises approximately 0.3% of Integrated Investment Consultants LLC’s portfolio, making the stock its 19th largest holding. Integrated Investment Consultants LLC’s holdings in Abbott Laboratories were worth $13,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC grew its holdings in shares of Abbott Laboratories by 176.3% during the first quarter. EntryPoint Capital LLC now owns 1,014 shares of the healthcare product maker’s stock worth $115,000 after buying an additional 647 shares during the last quarter. EP Wealth Advisors LLC raised its position in Abbott Laboratories by 3.2% during the 1st quarter. EP Wealth Advisors LLC now owns 40,618 shares of the healthcare product maker’s stock worth $4,617,000 after buying an additional 1,278 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Abbott Laboratories by 1,143.3% in the 1st quarter. Truvestments Capital LLC now owns 17,418 shares of the healthcare product maker’s stock worth $1,980,000 after acquiring an additional 16,017 shares during the period. LRI Investments LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $297,000. Finally, Alpine Global Management LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth about $2,061,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of analyst reports. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $130.07.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 1.0 %

Shares of NYSE ABT opened at $115.93 on Thursday. The firm’s 50 day moving average price is $115.54 and its 200 day moving average price is $109.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market cap of $201.07 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for 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 period in the prior year, the firm posted $1.14 EPS. As a group, sell-side 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 was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

About Abbott Laboratories

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.