Doliver Advisors LP Increases Stake in Abbott Laboratories (NYSE:ABT)

Doliver Advisors LP boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,531 shares of the healthcare product maker’s stock after purchasing an additional 378 shares during the period. Doliver Advisors LP’s holdings in Abbott Laboratories were worth $1,543,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after purchasing an additional 701,740 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $16,764,000. Garde Capital Inc. grew its holdings in Abbott Laboratories by 16.4% during the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock worth $205,000 after acquiring an additional 262 shares in the last quarter. Sectoral Asset Management Inc. increased its position in Abbott Laboratories by 31.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after purchasing an additional 16,500 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Abbott Laboratories by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after purchasing an additional 8,224 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ABT. Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. 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 price target for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. Finally, Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.1 %

Shares of ABT stock opened at $113.64 on Thursday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $197.69 billion, a PE ratio of 35.40, a P/E/G 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. The stock’s 50-day simple moving average is $112.10 and its 200-day simple moving average is $108.19.

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

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend 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.