MBE Wealth Management LLC Raises Position in Abbott Laboratories (NYSE:ABT)

MBE Wealth Management LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,126 shares of the healthcare product maker’s stock after purchasing an additional 111 shares during the quarter. MBE Wealth Management LLC’s holdings in Abbott Laboratories were worth $584,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Wealth Advisory Solutions LLC lifted its stake in Abbott Laboratories by 12.2% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 5,493 shares of the healthcare product maker’s stock worth $626,000 after purchasing an additional 599 shares in the last quarter. Arlington Partners LLC lifted its stake in Abbott Laboratories by 18.2% in the 3rd quarter. Arlington Partners LLC now owns 36,155 shares of the healthcare product maker’s stock worth $4,122,000 after purchasing an additional 5,575 shares in the last quarter. Trilogy Capital Inc. increased its holdings in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Trilogy Capital Inc. now owns 2,503 shares of the healthcare product maker’s stock worth $285,000 after buying an additional 132 shares during the last quarter. Koss Olinger Consulting LLC increased its holdings in shares of Abbott Laboratories by 10.7% during the 3rd quarter. Koss Olinger Consulting LLC now owns 3,360 shares of the healthcare product maker’s stock worth $383,000 after buying an additional 325 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 5.3% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 5,040 shares of the healthcare product maker’s stock worth $575,000 after buying an additional 252 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

ABT traded down $2.36 on Monday, hitting $117.03. 3,433,837 shares of the company were exchanged, compared to its average volume of 5,720,363. 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 business’s fifty day moving average is $113.97 and its 200 day moving average is $108.48. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. The firm has a market capitalization of $203.59 billion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

ABT has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup lifted their target price 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. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $129.67.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories 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 value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.