Mizuho Securities USA LLC Has $12.86 Million Stock Position in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Mizuho Securities USA LLC cut its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 15.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,823 shares of the healthcare product maker’s stock after selling 21,310 shares during the quarter. Mizuho Securities USA LLC’s holdings in Abbott Laboratories were worth $12,863,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Abbott Laboratories by 11.3% in the third quarter. Pacer Advisors Inc. now owns 165,125 shares of the healthcare product maker’s stock worth $18,826,000 after purchasing an additional 16,812 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in Abbott Laboratories by 1,302.6% in the third quarter. Integrated Investment Consultants LLC now owns 114,032 shares of the healthcare product maker’s stock worth $13,001,000 after purchasing an additional 105,902 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Abbott Laboratories by 18.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 3,395 shares of the healthcare product maker’s stock worth $387,000 after purchasing an additional 517 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Abbott Laboratories by 4.0% in the third quarter. LPL Financial LLC now owns 1,449,611 shares of the healthcare product maker’s stock valued at $165,270,000 after acquiring an additional 55,188 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Check Out Our Latest Research Report on Abbott Laboratories

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the 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. This represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $115.93 on Thursday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The business has a 50-day simple moving average of $115.54 and a 200 day simple moving average of $109.74. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $201.07 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (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 firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Abbott Laboratories Profile

(Free Report)

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.

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