Frazier Financial Advisors LLC Has $3.23 Million Stake in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Frazier Financial Advisors LLC decreased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,368 shares of the healthcare product maker’s stock after selling 361 shares during the quarter. Abbott Laboratories accounts for about 2.5% of Frazier Financial Advisors LLC’s portfolio, making the stock its 11th largest holding. Frazier Financial Advisors LLC’s holdings in Abbott Laboratories were worth $3,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors increased its holdings in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the period. Ameriprise Financial Inc. increased its holdings in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares during the period. Dimensional Fund Advisors LP increased its holdings in Abbott Laboratories by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock valued at $771,940,000 after buying an additional 1,596,835 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Abbott Laboratories by 8.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock valued at $761,996,000 after buying an additional 524,683 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Abbott Laboratories by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,654,712 shares of the healthcare product maker’s stock valued at $483,673,000 after buying an additional 563,506 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of several recent analyst reports. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Get Our Latest Research Report on ABT

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

Shares of NYSE ABT opened at $115.90 on Friday. The company has a market capitalization of $201.02 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. Abbott Laboratories has a 52-week low of $97.64 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company’s 50 day moving average price is $115.53 and its 200-day moving average price is $109.52.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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