Abbott Laboratories $ABT Shares Newly Purchased by M Holdings Securities Inc.

Key Points

• M Holdings Securities acquired a new 13,027-share stake in Abbott Laboratories during the third quarter, valued at approximately $1.4 million. Institutional investors collectively own 75.18% of the company.
• Abbott reported quarterly earnings of $1.42 per share, in line with estimates, while revenue of $13.01 billion slightly beat forecasts and rose 14.5% year over year.
• The company announced a quarterly dividend of $0.63 per share, equivalent to an annualized yield of 2.3%. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $118.32.

M Holdings Securities Inc. acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,027 shares of the healthcare product maker's stock, valued at approximately $1,403,000.

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE bought a new stake in Abbott Laboratories during the second quarter worth $1,603,607,000. Legal & General Group Plc bought a new position in Abbott Laboratories in the 2nd quarter valued at $1,082,524,000. Flossbach Von Storch SE bought a new position in Abbott Laboratories in the 2nd quarter valued at $902,938,000. Jupiter Topco LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $732,788,000. Finally, BlackRock Inc. raised its stake in shares of Abbott Laboratories by 4.6% during the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker's stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares during the period. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT opened at $110.41 on Tuesday. The stock has a 50-day moving average price of $103.99 and a 200-day moving average price of $101.72. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $191.04 billion, a P/E ratio of 41.20, a PEG ratio of 2.02 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting the consensus estimate of $1.42. The firm had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. Equities analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio (DPR) is currently 94.03%.

Insider Activity at Abbott Laboratories

In related news, EVP Mary Moreland sold 3,500 shares of Abbott Laboratories stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the transaction, the executive vice president owned 100,791 shares in the company, valued at $11,691,756. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price target on the stock in a report on Thursday, August 13th. Royal Bank Of Canada lowered their price objective on shares of Abbott Laboratories from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Thursday, October 22nd. Argus cut shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, October 27th. JPMorgan Chase & Co. reduced their target price on shares of Abbott Laboratories from $120.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott's offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.

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