IAM Advisory LLC Acquires New Shares in Abbott Laboratories (NYSE:ABT)

IAM Advisory LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,896 shares of the healthcare product maker’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. Waterloo Capital L.P. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $729,000. Ossiam grew its stake in shares of Abbott Laboratories by 7.1% during the fourth quarter. Ossiam now owns 37,752 shares of the healthcare product maker’s stock worth $4,155,000 after acquiring an additional 2,514 shares during the last quarter. Sei Investments Co. grew its stake in shares of Abbott Laboratories by 5.2% during the fourth quarter. Sei Investments Co. now owns 758,506 shares of the healthcare product maker’s stock worth $83,485,000 after acquiring an additional 37,534 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in Abbott Laboratories by 4.1% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 151,508 shares of the healthcare product maker’s stock valued at $16,676,000 after buying an additional 5,965 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Abbott Laboratories by 5.3% in the fourth quarter. State of Tennessee Treasury Department now owns 751,696 shares of the healthcare product maker’s stock valued at $82,739,000 after buying an additional 37,712 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 0.5 %

Shares of NYSE ABT traded up $0.54 during mid-day trading on Monday, reaching $113.18. 2,042,688 shares of the company’s stock were exchanged, compared to its average volume of 5,738,392. The firm has a market capitalization of $196.89 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company’s 50-day moving average is $112.37 and its 200-day moving average is $108.16.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ABT shares. Piper Sandler started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.33.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Company Profile

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.