Abbott Laboratories $ABT Shares Acquired by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 32.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 604,290 shares of the healthcare product maker’s stock after purchasing an additional 148,742 shares during the quarter. Abbott Laboratories makes up 3.0% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 13th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Abbott Laboratories were worth $59,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH increased its stake in shares of Abbott Laboratories by 0.7% during the 3rd 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 last quarter. Searle & CO. lifted its stake in Abbott Laboratories by 11.5% in the 3rd quarter. Searle & CO. now owns 19,368 shares of the healthcare product maker’s stock valued at $1,914,000 after purchasing an additional 2,000 shares during the last quarter. 71 West Capital Partners lifted its stake in Abbott Laboratories by 3.6% in the 3rd quarter. 71 West Capital Partners now owns 12,500 shares of the healthcare product maker’s stock valued at $1,235,000 after purchasing an additional 435 shares during the last quarter. Pinion Investment Advisors LLC bought a new position in Abbott Laboratories during the third quarter worth about $250,000. Finally, Vestor Capital LLC bought a new position in Abbott Laboratories during the third quarter worth about $104,979,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ABT. Piper Sandler reaffirmed an “overweight” rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Royal Bank Of Canada dropped their price objective on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. BTIG Research cut their target price on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Argus downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Finally, Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Stock Up 0.1%

Shares of ABT opened at $110.58 on Wednesday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The stock has a market capitalization of $191.53 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 1.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.45. The stock has a fifty day moving average of $103.99 and a 200-day moving average of $101.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The business had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Abbott Laboratories’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. 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 94.03%.

Insider Activity

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares in the company, valued at approximately $11,691,756. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

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