Reynders McVeigh Capital Management LLC Buys 5,018 Shares of Abbott Laboratories (NYSE:ABT)

Reynders McVeigh Capital Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 406,723 shares of the healthcare product maker’s stock after acquiring an additional 5,018 shares during the period. Abbott Laboratories comprises 2.5% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Abbott Laboratories were worth $46,370,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABT. NBC Securities Inc. raised its position in shares of Abbott Laboratories by 19.5% during the 2nd quarter. NBC Securities Inc. now owns 17,893 shares of the healthcare product maker’s stock valued at $1,859,000 after acquiring an additional 2,924 shares during the last quarter. Lantz Financial LLC increased its position in shares of Abbott Laboratories by 5.2% in the 2nd quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker’s stock valued at $596,000 after buying an additional 281 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Simplicity Wealth LLC now owns 54,739 shares of the healthcare product maker’s stock valued at $5,688,000 after buying an additional 2,041 shares in the last quarter. Parkside Investments LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $623,000. Finally, Butensky & Cohen Financial Security Inc. increased its position in shares of Abbott Laboratories by 1.3% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 31,329 shares of the healthcare product maker’s stock valued at $3,255,000 after buying an additional 416 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ABT. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Raymond James restated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Down 0.4 %

ABT stock opened at $116.29 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $201.70 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.75 and a beta of 0.73. The business’s fifty day moving average price is $115.96 and its two-hundred day moving average price is $110.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the business earned $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate 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 was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’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 of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by company insiders.

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.