S.A. Mason LLC Buys 101 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

S.A. Mason LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,796 shares of the healthcare product maker’s stock after acquiring an additional 101 shares during the quarter. S.A. Mason LLC’s holdings in Abbott Laboratories were worth $1,345,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $37,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABT. Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup increased their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Check Out Our Latest Stock Analysis on ABT

Abbott Laboratories Stock Performance

ABT opened at $114.45 on Thursday. The firm’s 50-day moving average price is $114.79 and its 200-day moving average price is $108.74. The company has a market cap of $199.13 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. 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 $92.43 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Insider Buying and Selling

In other Abbott Laboratories 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Company Profile

(Free Report)

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.

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