Gilliland Jeter Wealth Management LLC Purchases 252 Shares of Abbott Laboratories (NYSE:ABT)

Gilliland Jeter Wealth Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,040 shares of the healthcare product maker’s stock after acquiring an additional 252 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Abbott Laboratories were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Boltwood Capital Management increased its holdings in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after buying an additional 89 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after buying an additional 89 shares during the period. Atwood & Palmer Inc. raised its holdings in shares of Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after acquiring an additional 90 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Abbott Laboratories by 2.3% during the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after acquiring an additional 91 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its holdings in Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after purchasing an additional 92 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup boosted 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. Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Raymond James reissued a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $119.39 on Monday. The firm has a market capitalization of $207.69 billion, a P/E ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. The business has a 50-day moving average of $113.97 and a 200-day moving average of $108.48. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.