Falcon Wealth Planning Makes New Investment in Abbott Laboratories (NYSE:ABT)

Falcon Wealth Planning acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,892 shares of the healthcare product maker’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the third quarter worth approximately $31,000. Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% during 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. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.1 %

Shares of NYSE ABT traded down $0.06 during midday trading on Tuesday, hitting $117.59. 525,282 shares of the company traded hands, compared to its average volume of 5,702,787. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64. The stock has a 50-day moving average price of $115.03 and a 200 day moving average price of $108.95. The firm has a market cap of $203.95 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. As a group, analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current 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 given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABT shares. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.