Rosenberg Matthew Hamilton Acquires 115 Shares of Abbott Laboratories (NYSE:ABT)

Rosenberg Matthew Hamilton boosted its holdings in Abbott Laboratories (NYSE:ABT) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,653 shares of the healthcare product maker’s stock after acquiring an additional 115 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Abbott Laboratories were worth $188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the second quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $37,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $37,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ABT shares. UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note 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, the stock has an average rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.45 during midday trading on Thursday, hitting $114.00. 728,923 shares of the company’s stock were exchanged, compared to its average volume of 5,684,270. The company has a market cap of $198.35 billion, a P/E ratio of 34.63, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a 50-day moving average price of $114.79 and a two-hundred day moving average price of $108.74. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64.

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

Abbott Laboratories Announces Dividend

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 given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

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.