LexAurum Advisors LLC Purchases Shares of 1,775 Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

LexAurum Advisors LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) during the 3rd quarter, Holdings Channel reports. The fund bought 1,775 shares of the healthcare product maker’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Onyx Bridge Wealth Group LLC increased its position in Abbott Laboratories by 5.3% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 3,305 shares of the healthcare product maker’s stock valued at $377,000 after purchasing an additional 166 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Abbott Laboratories by 5.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 199,683 shares of the healthcare product maker’s stock valued at $22,766,000 after buying an additional 10,874 shares during the period. TruWealth Advisors LLC raised its stake in Abbott Laboratories by 2.5% in the third quarter. TruWealth Advisors LLC now owns 123,522 shares of the healthcare product maker’s stock worth $14,083,000 after buying an additional 3,046 shares in the last quarter. Drake & Associates LLC grew its holdings in shares of Abbott Laboratories by 2.4% during the 3rd quarter. Drake & Associates LLC now owns 6,684 shares of the healthcare product maker’s stock worth $762,000 after acquiring an additional 154 shares during the period. Finally, Trust Co. of Vermont raised its position in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Trust Co. of Vermont now owns 208,881 shares of the healthcare product maker’s stock worth $23,815,000 after acquiring an additional 2,958 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.3 %

Abbott Laboratories stock opened at $119.39 on Friday. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The business’s fifty day moving average is $113.97 and its 200 day moving average is $108.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market capitalization of $207.69 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABT shares. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.67.

View Our Latest Stock Report on ABT

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Company 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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