Silverlake Wealth Management LLC Invests $219,000 in Abbott Laboratories (NYSE:ABT)

Silverlake Wealth Management LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,917 shares of the healthcare product maker’s stock, valued at approximately $219,000.

Several other large investors also recently modified their holdings of the stock. Perfromance Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $298,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Abbott Laboratories by 84.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 43,736 shares of the healthcare product maker’s stock worth $4,985,000 after purchasing an additional 20,036 shares during the last quarter. LongView Wealth Management increased its stake in shares of Abbott Laboratories by 2.2% during the 3rd quarter. LongView Wealth Management now owns 4,569 shares of the healthcare product maker’s stock worth $521,000 after purchasing an additional 100 shares during the last quarter. Fermata Advisors LLC boosted its holdings in Abbott Laboratories by 17.0% in the 3rd quarter. Fermata Advisors LLC now owns 2,492 shares of the healthcare product maker’s stock worth $284,000 after buying an additional 362 shares during the period. Finally, Pine Haven Investment Counsel Inc boosted its holdings in Abbott Laboratories by 0.5% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 23,172 shares of the healthcare product maker’s stock worth $2,642,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABT. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $125.15.

Abbott Laboratories Stock Performance

NYSE ABT opened at $116.12 on Friday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a fifty day moving average of $113.13 and a 200-day moving average of $108.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

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.