Abbott Laboratories (NYSE:ABT) Shares Acquired by CORDA Investment Management LLC.

CORDA Investment Management LLC. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,952 shares of the healthcare product maker’s stock after buying an additional 218 shares during the period. CORDA Investment Management LLC.’s holdings in Abbott Laboratories were worth $1,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the third quarter worth approximately $31,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the second quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories in the third quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Sanford C. Bernstein upped their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $129.67.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 in the company, valued at approximately $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 SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.3 %

NYSE ABT opened at $118.26 on Monday. Abbott Laboratories has a 1-year low of $92.43 and a 1-year 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. The company has a market capitalization of $205.76 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72. The firm’s fifty day simple moving average is $114.93 and its 200-day simple moving average is $108.86.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Abbott Laboratories’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 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.