Dynamic Technology Lab Private Ltd Purchases 12,522 Shares of Abbott Laboratories (NYSE:ABT)

Dynamic Technology Lab Private Ltd boosted its position in Abbott Laboratories (NYSE:ABT) by 146.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,095 shares of the healthcare product maker’s stock after acquiring an additional 12,522 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Abbott Laboratories were worth $2,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI bought a new position in Abbott Laboratories in the 1st quarter worth approximately $2,160,000. Captrust Financial Advisors boosted its holdings in shares of Abbott Laboratories by 2.9% in the first quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock worth $51,640,000 after acquiring an additional 12,847 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Abbott Laboratories in the first quarter valued at $2,506,000. Industrial Alliance Investment Management Inc. raised its stake in shares of Abbott Laboratories by 2.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 4,543 shares of the healthcare product maker’s stock valued at $516,000 after purchasing an additional 120 shares during the period. Finally, Icon Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 28.1% during the 1st quarter. Icon Wealth Advisors LLC now owns 55,031 shares of the healthcare product maker’s stock worth $6,255,000 after purchasing an additional 12,068 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $117.76 on Monday. The stock has a market cap of $204.25 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72. The stock’s 50-day moving average is $115.58 and its 200 day moving average is $109.94. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share 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 firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 66.87%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Mizuho upped their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.