Encompass More Asset Management Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

Encompass More Asset Management raised its position in shares of Abbott Laboratories (NYSE:ABT) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,349 shares of the healthcare product maker’s stock after buying an additional 347 shares during the period. Encompass More Asset Management’s holdings in Abbott Laboratories were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the 2nd quarter valued at about $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its holdings 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 valued at $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

ABT stock opened at $118.77 on Friday. 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 has a 1-year low of $99.71 and a 1-year high of $121.64. The stock has a market capitalization of $206.00 billion, a P/E ratio of 36.10, a P/E/G ratio of 2.80 and a beta of 0.72. The business has a fifty day moving average price of $115.87 and a 200-day moving average price of $110.35.

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 analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. 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 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group upped 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, Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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 dated 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate 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.