CreativeOne Wealth LLC Increases Stake in Abbott Laboratories (NYSE:ABT)

CreativeOne Wealth LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 30.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,756 shares of the healthcare product maker’s stock after purchasing an additional 5,121 shares during the quarter. CreativeOne Wealth LLC’s holdings in Abbott Laboratories were worth $2,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the second quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the second quarter worth $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $118.96 on Thursday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The firm has a market capitalization of $206.33 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.72. 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’s 50-day moving average is $115.67 and its two-hundred day moving average is $110.19.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $10.55 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Barclays raised their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, UBS Group raised their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.07.

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.