Arlington Capital Management Inc. Takes $210,000 Position in Abbott Laboratories (NYSE:ABT)

Arlington Capital Management Inc. bought a new stake in Abbott Laboratories (NYSE:ABT) during the third quarter, HoldingsChannel.com reports. The fund bought 1,841 shares of the healthcare product maker’s stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. BDF Gestion bought a new stake in Abbott Laboratories in the 2nd quarter valued at $7,651,000. Dundas Partners LLP lifted its position in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after buying an additional 16,325 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $5,634,000. Finally, Empowered Funds LLC increased its holdings in Abbott Laboratories by 40.3% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after purchasing an additional 14,215 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABT. Royal Bank of Canada upped 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. 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. Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Four investment 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, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction 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 $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of ABT traded up $0.11 during midday trading on Monday, reaching $118.71. The stock had a trading volume of 1,593,778 shares, compared to its average volume of 5,708,268. The company’s 50-day moving average is $114.93 and its 200 day moving average is $108.86. Abbott Laboratories has a 12-month low of $92.43 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. The company has a market capitalization of $206.54 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

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.