Maia Wealth LLC Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Maia Wealth LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,621 shares of the healthcare product maker’s stock after buying an additional 154 shares during the quarter. Maia Wealth LLC’s holdings in Abbott Laboratories were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth $31,000. Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the second quarter valued at $32,000. Finally, Highline Wealth Partners LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth about $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $116.77 on Thursday. The firm has a market capitalization of $202.53 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.79 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $92.43 and a 52 week high of $121.64. The firm’s 50 day moving average is $115.20 and its two-hundred day moving average is $109.08.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the business earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABT. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target 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.