XML Financial LLC Has $2.34 Million Holdings in Abbott Laboratories (NYSE:ABT)

XML Financial LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,534 shares of the healthcare product maker’s stock after selling 597 shares during the period. XML Financial LLC’s holdings in Abbott Laboratories were worth $2,341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. increased its position in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital International Investors increased its position in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the period. Ameriprise Financial Inc. lifted its holdings in Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares during the period. Dimensional Fund Advisors LP boosted its position in Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Abbott Laboratories by 7.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker’s stock worth $721,984,000 after acquiring an additional 452,308 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of several research analyst reports. Morgan Stanley upped their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Mizuho increased their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Stock Up 1.1 %

ABT opened at $116.59 on Friday. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The firm has a market capitalization of $202.22 billion, a P/E ratio of 35.44, a PEG ratio of 2.75 and a beta of 0.72. The company’s 50-day moving average is $115.32 and its 200 day moving average is $109.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its 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. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. Research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. 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 payout ratio is presently 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Company 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.