Coston McIsaac & Partners Buys 371 Shares of Abbott Laboratories (NYSE:ABT)

Coston McIsaac & Partners lifted its stake in Abbott Laboratories (NYSE:ABT) by 15.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,725 shares of the healthcare product maker’s stock after acquiring an additional 371 shares during the period. Coston McIsaac & Partners’ holdings in Abbott Laboratories were worth $310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the 2nd quarter worth about $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.04 during trading hours on Wednesday, reaching $116.08. The stock had a trading volume of 780,896 shares, compared to its average volume of 5,718,343. The stock’s fifty day simple moving average is $114.31 and its 200 day simple moving average is $108.56. The firm has a market capitalization of $201.94 billion, a PE ratio of 36.17, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. 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 (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 the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.