Abbott Laboratories (NYSE:ABT) Shares Bought by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,803 shares of the healthcare product maker’s stock after acquiring an additional 205 shares during the period. Abbott Laboratories accounts for approximately 2.0% of Conscious Wealth Investments LLC’s holdings, making the stock its 29th biggest position. Conscious Wealth Investments LLC’s holdings in Abbott Laboratories were worth $2,902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ABT. Vicus Capital lifted its stake in Abbott Laboratories by 19.5% during the first quarter. Vicus Capital now owns 5,137 shares of the healthcare product maker’s stock valued at $584,000 after purchasing an additional 837 shares during the last quarter. Foguth Wealth Management LLC. acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $318,000. Fiduciary Alliance LLC lifted its stake in Abbott Laboratories by 4.9% during the first quarter. Fiduciary Alliance LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $428,000 after purchasing an additional 177 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in Abbott Laboratories by 295.8% during the first quarter. SteelPeak Wealth LLC now owns 13,009 shares of the healthcare product maker’s stock valued at $1,479,000 after purchasing an additional 9,722 shares during the last quarter. Finally, Koss Olinger Consulting LLC lifted its stake in Abbott Laboratories by 992.3% during the first quarter. Koss Olinger Consulting LLC now owns 44,335 shares of the healthcare product maker’s stock valued at $5,039,000 after purchasing an additional 40,276 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ABT. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped 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, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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 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 completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $2.32 during trading hours on Friday, hitting $114.22. 5,989,611 shares of the stock were exchanged, compared to its average volume of 5,724,433. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company’s 50 day moving average is $114.63 and its 200 day moving average is $108.67. The firm has a market capitalization of $198.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) 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.