Sivik Global Healthcare LLC Takes $6.84 Million Position in Abbott Laboratories (NYSE:ABT)

Sivik Global Healthcare LLC acquired a new position in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 60,000 shares of the healthcare product maker’s stock, valued at approximately $6,841,000. Abbott Laboratories accounts for 2.9% of Sivik Global Healthcare LLC’s portfolio, making the stock its 14th largest holding.

Several other large investors have also modified their holdings of ABT. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital International Investors raised its holdings in Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares in the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $341,777,000. Sessa Capital IM L.P. acquired a new stake in Abbott Laboratories during the 2nd quarter worth $264,876,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of ABT traded down $0.30 during midday trading on Thursday, hitting $115.44. The company’s stock had a trading volume of 143,790 shares, compared to its average volume of 5,679,619. The company’s fifty day simple moving average is $115.45 and its two-hundred day simple moving average is $109.39. The stock has a market capitalization of $200.22 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $96.92 and a one year high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABT. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Finally, Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.07.

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.