8,444 Abbott Laboratories $ABT Shares Acquired by Coerente Capital Management

Coerente Capital Management lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.5% during the third quarter, HoldingsChannel.com reports. The fund owned 248,255 shares of the healthcare product maker’s stock after purchasing an additional 8,444 shares during the quarter. Abbott Laboratories makes up 4.3% of Coerente Capital Management’s holdings, making the stock its 10th largest position. Coerente Capital Management’s holdings in Abbott Laboratories were worth $24,535,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in shares of Abbott Laboratories by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock valued at $8,339,000 after purchasing an additional 10,431 shares during the period. Juncture Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth $658,000. Aureus Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 25.0% during the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock worth $34,078,000 after purchasing an additional 66,422 shares during the period. Thompson Investment Management Inc. grew its position in 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 buying an additional 12,474 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at $4,889,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 3.8%

Shares of Abbott Laboratories stock opened at $110.27 on Tuesday. The company has a 50-day moving average of $104.23 and a two-hundred day moving average of $101.99. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The stock 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 (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Abbott Laboratories’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given 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 yield of 2.3%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Royal Bank Of Canada lowered their target price on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Finally, Wall Street Zen raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.