Resonant Capital Advisors LLC Buys 283 Shares of Abbott Laboratories (NYSE:ABT)

Resonant Capital Advisors LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,399 shares of the healthcare product maker’s stock after purchasing an additional 283 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC increased its position in shares of Abbott Laboratories by 6.3% during the 1st quarter. RFG Advisory LLC now owns 13,246 shares of the healthcare product maker’s stock valued at $1,506,000 after purchasing an additional 782 shares during the last quarter. Royal Fund Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $202,000. Anderson Hoagland & Co. purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $272,000. Steph & Co. lifted its holdings in Abbott Laboratories by 5.0% in the 1st quarter. Steph & Co. now owns 4,591 shares of the healthcare product maker’s stock worth $522,000 after buying an additional 219 shares during the period. Finally, Northwest Investment Counselors LLC lifted its holdings in Abbott Laboratories by 0.6% in the 1st quarter. Northwest Investment Counselors LLC now owns 22,096 shares of the healthcare product maker’s stock worth $2,511,000 after buying an additional 142 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 1.3 %

ABT stock opened at $119.39 on Friday. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The business has a fifty day moving average price of $113.97 and a 200-day moving average price of $108.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market capitalization of $207.69 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. Equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Raymond James restated a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Profile

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.