Fulcrum Asset Management LLP Purchases 18,291 Shares of Abbott Laboratories $ABT

Fulcrum Asset Management LLP boosted its position in Abbott Laboratories (NYSE:ABT) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,700 shares of the healthcare product maker’s stock after acquiring an additional 18,291 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Abbott Laboratories were worth $8,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock worth $318,000 after acquiring an additional 97 shares in the last quarter. Parkway Wealth Management Group LLC raised its holdings in shares of Abbott Laboratories by 3.2% in the 3rd quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock valued at $317,000 after purchasing an additional 98 shares in the last quarter. Signature Equity Partners LLC raised its holdings in shares of Abbott Laboratories by 7.9% in the 3rd quarter. Signature Equity Partners LLC now owns 1,363 shares of the healthcare product maker’s stock valued at $135,000 after purchasing an additional 100 shares in the last quarter. St. Johns Investment Management Company LLC lifted its position in shares of Abbott Laboratories by 1.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after purchasing an additional 101 shares during the last quarter. Finally, AA Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 1.7% during the 3rd quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. Piper Sandler restated an “overweight” rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Barclays initiated coverage on Abbott Laboratories in a report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 price target for the company. Argus cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Wolfe Research upgraded Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Stock Up 0.1%

Shares of NYSE:ABT opened at $110.02 on Monday. The firm has a 50 day simple moving average of $104.04 and a 200-day simple moving average of $101.78. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $190.38 billion, a PE ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The firm had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period last year, the firm posted $1.30 EPS. The company’s revenue was up 14.5% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

Insider Activity

In other news, EVP Mary Moreland sold 3,500 shares of Abbott Laboratories stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the sale, the executive vice president owned 100,791 shares in the company, valued at approximately $11,691,756. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.