Abbott Laboratories $ABT Stock: Hohimer Wealth Management LLC Grows Position

Hohimer Wealth Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,504 shares of the healthcare product maker’s stock after buying an additional 5,557 shares during the period. Hohimer Wealth Management LLC’s holdings in Abbott Laboratories were worth $3,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $31,000. Foresight Capital Management Advisors Inc. purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Balance Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $34,000. Summit Securities Group LLC boosted its stake in shares of Abbott Laboratories by 41.3% during the second quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Finally, Addison Advisors LLC purchased a new position in Abbott Laboratories during the second quarter valued at approximately $40,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Abbott Laboratories Price Performance

NYSE ABT opened at $110.02 on Monday. The firm’s fifty day simple moving average is $104.04 and its two-hundred day simple moving average is $101.78. The firm has a market capitalization of $190.38 billion, a P/E ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting the consensus estimate of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABT shares. Piper Sandler reiterated an “overweight” rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $119.00 to $127.00 in a research report on Friday, October 2nd. Citigroup decreased their price objective on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. TD Cowen dropped their price objective on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, Barclays began coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 target price on the stock. Two equities research 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 stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $118.32.

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.