Abbott Laboratories $ABT Shares Purchased by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators boosted its stake in Abbott Laboratories (NYSE:ABT) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,175 shares of the healthcare product maker’s stock after acquiring an additional 13,731 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Abbott Laboratories were worth $13,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Abbott Laboratories during the second quarter worth $1,603,607,000. Legal & General Group Plc acquired a new position in Abbott Laboratories in the 2nd quarter valued at $1,082,524,000. Flossbach Von Storch SE purchased a new position in Abbott Laboratories during the 2nd quarter worth $902,938,000. Jupiter Topco LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth $732,788,000. Finally, BlackRock Inc. lifted its stake in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after acquiring an additional 6,769,518 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Mary Moreland sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $107.23 on Friday. The company has a market cap of $185.71 billion, a PE ratio of 40.01, a P/E/G ratio of 1.92 and a beta of 0.54. The company has a fifty day moving average price of $103.94 and a two-hundred day moving average price of $101.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.00. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $132.02.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period last year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Royal Bank Of Canada lowered their price target on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. UBS Group reduced their target price on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price target on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Two research 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’s stock. According to data from MarketBeat, Abbott Laboratories has an average 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. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.