Abbott Laboratories (NYSE:ABT) Stock Position Raised by Dillon & Associates Inc.

Dillon & Associates Inc. raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,347 shares of the healthcare product maker’s stock after acquiring an additional 4,364 shares during the quarter. Abbott Laboratories makes up 3.4% of Dillon & Associates Inc.’s investment portfolio, making the stock its 7th biggest holding. Dillon & Associates Inc.’s holdings in Abbott Laboratories were worth $23,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the second quarter worth $32,000. Valued Wealth Advisors LLC boosted its holdings 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 valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories in the second quarter valued at $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABT shares. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Piper Sandler boosted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $116.45 on Wednesday. Abbott Laboratories has a 12-month low of $94.50 and a 12-month high of $121.64. The firm has a market capitalization of $201.98 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $115.39 and a 200-day moving average of $109.28.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 20.18%. The company 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 business posted $1.14 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is 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.