Embree Financial Group Acquires 3,220 Shares of Abbott Laboratories (NYSE:ABT)

Embree Financial Group raised its holdings in Abbott Laboratories (NYSE:ABT) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,257 shares of the healthcare product maker’s stock after buying an additional 3,220 shares during the period. Embree Financial Group’s holdings in Abbott Laboratories were worth $3,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. RFG Advisory LLC raised its position in Abbott Laboratories by 6.3% during the first quarter. RFG Advisory LLC now owns 13,246 shares of the healthcare product maker’s stock worth $1,506,000 after acquiring an additional 782 shares in the last quarter. Royal Fund Management LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $202,000. Anderson Hoagland & Co. acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $272,000. Steph & Co. increased its position in Abbott Laboratories by 5.0% during the first quarter. Steph & Co. now owns 4,591 shares of the healthcare product maker’s stock worth $522,000 after buying an additional 219 shares during the last quarter. Finally, Northwest Investment Counselors LLC raised its stake in Abbott Laboratories by 0.6% in the first quarter. Northwest Investment Counselors LLC now owns 22,096 shares of the healthcare product maker’s stock valued at $2,511,000 after buying an additional 142 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 1.3 %

Shares of NYSE:ABT opened at $119.39 on Friday. The business’s 50 day simple moving average is $113.97 and its 200 day simple moving average is $108.50. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company has a market capitalization of $207.69 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. On average, research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.84%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was 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 $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABT. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories 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.