Acorn Wealth Advisors LLC Purchases Shares of 2,703 Abbott Laboratories (NYSE:ABT)

Acorn Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,703 shares of the healthcare product maker’s stock, valued at approximately $308,000.

Several other institutional investors have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the second quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the second quarter worth about $32,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays increased their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

ABT opened at $118.13 on Tuesday. The stock has a fifty day moving average of $115.59 and a 200-day moving average of $110.04. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a market capitalization of $204.89 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.77 and a beta of 0.72. 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 results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly 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. On average, equities analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.86%. Abbott Laboratories’s payout ratio is 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.