Sivik Global Healthcare LLC Buys New Holdings in Abbott Laboratories (NYSE:ABT)

Sivik Global Healthcare LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 60,000 shares of the healthcare product maker’s stock, valued at approximately $6,841,000. Abbott Laboratories comprises approximately 2.9% of Sivik Global Healthcare LLC’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also modified their holdings of ABT. BDF Gestion purchased a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $7,651,000. Dundas Partners LLP boosted its holdings in Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 19.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after acquiring an additional 31,720 shares during the period. MONECO Advisors LLC grew its holdings in Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after purchasing an additional 16,325 shares in the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new stake in Abbott Laboratories during the 3rd quarter worth approximately $2,176,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.30 during mid-day trading on Thursday, hitting $115.44. 143,790 shares of the company were exchanged, compared to its average volume of 5,679,619. The company has a market capitalization of $200.22 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $115.45 and a 200 day moving average of $109.39. Abbott Laboratories has a 1-year low of $96.92 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm posted $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity at Abbott Laboratories

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

Analyst Ratings Changes

Several brokerages have weighed in on ABT. Piper Sandler lifted 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, October 17th. Barclays upped their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased 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, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $130.07.

About Abbott Laboratories

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.