Abbott Laboratories (NYSE:ABT) Stock Position Raised by Trueblood Wealth Management LLC

by · The Markets Daily

Trueblood Wealth Management LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,588 shares of the healthcare product maker’s stock after purchasing an additional 232 shares during the period. Trueblood Wealth Management LLC’s holdings in Abbott Laboratories were worth $637,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the second quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. UBS Group boosted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Royal Bank of Canada raised 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Get Our Latest Report on Abbott Laboratories

Abbott Laboratories Stock Down 2.0 %

Abbott Laboratories stock opened at $114.22 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. The firm has a fifty day moving average price of $114.63 and a two-hundred day moving average price of $108.70. The firm has a market cap of $198.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

About Abbott Laboratories

(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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