Meadow Creek Wealth Advisors LLC Purchases 1,024 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Meadow Creek Wealth Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT – Free Report) by 35.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,924 shares of the healthcare product maker’s stock after acquiring an additional 1,024 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $447,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter worth $28,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $30,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABT shares. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.67.

View Our Latest Stock Analysis on Abbott Laboratories

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $115.85 on Wednesday. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The company has a market cap of $201.54 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.74 and a beta of 0.72. The firm’s fifty day moving average is $114.31 and its 200 day moving average is $108.56. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

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, beating analysts’ consensus estimates 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 net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. Sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.

See Also

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