Prudent Man Advisors LLC Has $1.79 Million Stake in Abbott Laboratories (NYSE:ABT)

Prudent Man Advisors LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,733 shares of the healthcare product maker’s stock after selling 415 shares during the period. Abbott Laboratories accounts for about 0.6% of Prudent Man Advisors LLC’s portfolio, making the stock its 27th largest position. Prudent Man Advisors LLC’s holdings in Abbott Laboratories were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Swiss National Bank increased its stake in shares of Abbott Laboratories by 0.5% in the 3rd quarter. Swiss National Bank now owns 5,163,580 shares of the healthcare product maker’s stock valued at $588,700,000 after buying an additional 26,000 shares during the period. S&CO Inc. increased its position in Abbott Laboratories by 1.2% in the third quarter. S&CO Inc. now owns 262,646 shares of the healthcare product maker’s stock worth $29,944,000 after purchasing an additional 3,135 shares during the period. Concord Asset Management LLC VA lifted its position in Abbott Laboratories by 14.2% during the 3rd quarter. Concord Asset Management LLC VA now owns 15,188 shares of the healthcare product maker’s stock valued at $1,732,000 after purchasing an additional 1,890 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $32,000. Finally, Tower Bridge Advisors grew its position in shares of Abbott Laboratories by 3.7% during the 3rd quarter. Tower Bridge Advisors now owns 45,017 shares of the healthcare product maker’s stock worth $5,132,000 after buying an additional 1,597 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

Shares of NYSE:ABT opened at $115.90 on Monday. The stock has a market capitalization of $201.02 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. The company’s 50-day moving average price is $115.53 and its two-hundred day moving average price is $109.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $97.64 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Upgrades and Downgrades

Several analysts have commented on ABT shares. Barclays upped their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

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.