Abbott Laboratories (NYSE:ABT) Shares Bought by Carlson Capital Management

Carlson Capital Management boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,242 shares of the healthcare product maker’s stock after purchasing an additional 619 shares during the period. Carlson Capital Management’s holdings in Abbott Laboratories were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Insight Folios Inc boosted its holdings in Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after buying an additional 87 shares during the last quarter. Boltwood Capital Management increased its position in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the period. Silicon Valley Capital Partners grew its holdings in Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares during the last quarter. Finally, Atwood & Palmer Inc. grew its holdings in Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after buying an additional 90 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.7 %

Shares of Abbott Laboratories stock traded down $0.81 on Tuesday, hitting $117.32. 458,735 shares of the company’s stock traded hands, compared to its average volume of 5,677,566. The stock has a market capitalization of $203.49 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The firm’s 50-day moving average price is $115.59 and its two-hundred day moving average price is $110.04. 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 announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate 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%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABT shares. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group raised 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. Finally, Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Four investment 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 stock has an average rating of “Moderate Buy” and a consensus 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.