4,692 Abbott Laboratories $ABT Shares Purchased by Riverbridge Partners LLC

Riverbridge Partners LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,375 shares of the healthcare product maker’s stock after purchasing an additional 4,692 shares during the period. Riverbridge Partners LLC’s holdings in Abbott Laboratories were worth $2,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Silver Grove Financial Group Inc. grew its holdings in shares of Abbott Laboratories by 17.3% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,829 shares of the healthcare product maker’s stock worth $181,000 after purchasing an additional 270 shares in the last quarter. Renasant Bank acquired a new position in shares of Abbott Laboratories in the third quarter valued at $551,000. Mesirow Financial Investment Management Inc. raised its stake in shares of Abbott Laboratories by 0.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 168,258 shares of the healthcare product maker’s stock valued at $16,629,000 after purchasing an additional 579 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its position in Abbott Laboratories by 32.7% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 604,290 shares of the healthcare product maker’s stock worth $59,722,000 after purchasing an additional 148,742 shares during the period. Finally, Keybank National Association OH lifted its position in Abbott Laboratories by 0.7% in the third quarter. Keybank National Association OH now owns 1,261,773 shares of the healthcare product maker’s stock worth $124,701,000 after purchasing an additional 8,778 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. TD Cowen decreased their price target on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Citigroup reduced their price objective on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their target price for the company from $119.00 to $127.00 in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $118.32.

Insider Activity at Abbott Laboratories

In other news, EVP Mary Moreland sold 3,500 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the sale, the executive vice president owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $110.58 on Wednesday. The stock’s fifty day simple moving average is $103.99 and its 200 day simple moving average is $101.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.00. The firm has a market cap of $191.53 billion, a price-to-earnings ratio of 41.26, a P/E/G ratio of 1.94 and a beta of 0.54. Abbott Laboratories has a one year low of $81.97 and a one year 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 for the quarter, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The firm had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. On average, analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company 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. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.