Larson Financial Group LLC Purchases 1,224 Shares of Abbott Laboratories (NYSE:ABT)

Larson Financial Group LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,344 shares of the healthcare product maker’s stock after purchasing an additional 1,224 shares during the period. Larson Financial Group LLC’s holdings in Abbott Laboratories were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Zurich Insurance Group Ltd FI bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $2,160,000. Captrust Financial Advisors lifted its holdings in shares of Abbott Laboratories by 2.9% in the 1st quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock worth $51,640,000 after buying an additional 12,847 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth $2,506,000. Industrial Alliance Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 2.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 4,543 shares of the healthcare product maker’s stock valued at $516,000 after acquiring an additional 120 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in Abbott Laboratories by 28.1% in the first quarter. Icon Wealth Advisors LLC now owns 55,031 shares of the healthcare product maker’s stock worth $6,255,000 after acquiring an additional 12,068 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.4 %

ABT stock opened at $117.76 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm’s fifty day simple moving average is $115.58 and its 200-day simple moving average is $109.94. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a market capitalization of $204.25 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during 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 13.99%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. Barclays upped their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.