Lombard Odier Asset Management Europe Ltd Makes New Investment in Abbott Laboratories (NYSE:ABT)

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 119,938 shares of the healthcare product maker’s stock, valued at approximately $12,463,000.

Several other large investors also recently bought and sold shares of ABT. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth $32,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABT shares. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Piper Sandler began coverage on shares of Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price objective on the stock. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $113.70 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock’s 50-day simple moving average is $110.50 and its 200-day simple moving average is $108.45. The company has a market capitalization of $197.80 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. As a group, analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

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.