Abbott Laboratories $ABT Stock Bought by Trek Financial LLC

Trek Financial LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 28.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,555 shares of the healthcare product maker’s stock after acquiring an additional 6,052 shares during the quarter. Trek Financial LLC’s holdings in Abbott Laboratories were worth $2,723,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Abbott Laboratories by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock worth $8,339,000 after acquiring an additional 10,431 shares during the period. Juncture Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $658,000. Aureus Asset Management LLC raised its position in shares of Abbott Laboratories by 25.0% during the 1st quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock valued at $34,078,000 after acquiring an additional 66,422 shares during the last quarter. Thompson Investment Management Inc. lifted its stake in shares of Abbott Laboratories by 786.0% in the 2nd quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock valued at $1,276,000 after purchasing an additional 12,474 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $4,889,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 3.8%

ABT opened at $110.27 on Tuesday. The firm’s fifty day moving average is $104.23 and its two-hundred day moving average is $101.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The firm has a market cap of $190.80 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The company had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories’s payout ratio is currently 94.03%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Weiss Ratings raised Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Argus downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Royal Bank Of Canada cut their target price on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. UBS Group reduced their target price on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. decreased their target price on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.