Abbott Laboratories (NYSE:ABT) Shares Bought by Baldwin Investment Management LLC

Baldwin Investment Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,165 shares of the healthcare product maker’s stock after buying an additional 652 shares during the quarter. Abbott Laboratories makes up about 0.5% of Baldwin Investment Management LLC’s holdings, making the stock its 29th largest position. Baldwin Investment Management LLC’s holdings in Abbott Laboratories were worth $3,895,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABT. Carlson Capital Management lifted its holdings in shares of Abbott Laboratories by 8.1% in the third quarter. Carlson Capital Management now owns 8,242 shares of the healthcare product maker’s stock valued at $940,000 after purchasing an additional 619 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $719,000. Shum Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $1,054,000. J. Stern & Co. LLP grew its holdings in Abbott Laboratories by 1.3% during the 3rd quarter. J. Stern & Co. LLP now owns 299,133 shares of the healthcare product maker’s stock valued at $34,104,000 after buying an additional 3,977 shares during the last quarter. Finally, Avestar Capital LLC increased its position in Abbott Laboratories by 12.4% during the third quarter. Avestar Capital LLC now owns 8,843 shares of the healthcare product maker’s stock worth $1,008,000 after buying an additional 973 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was 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 through this link. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $117.95 on Wednesday. The company has a market cap of $204.58 billion, a P/E ratio of 35.85, a PEG ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The business’s 50-day simple moving average is $115.59 and its 200 day simple moving average is $110.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analysts Set New Price Targets

A number of analysts recently commented on ABT shares. Morgan Stanley increased 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. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. UBS Group boosted 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. Finally, Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.