L.M. Kohn & Company Increases Stock Position in Abbott Laboratories (NYSE:ABT)

L.M. Kohn & Company raised its holdings in Abbott Laboratories (NYSE:ABT) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,302 shares of the healthcare product maker’s stock after purchasing an additional 250 shares during the quarter. L.M. Kohn & Company’s holdings in Abbott Laboratories were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Abbott Laboratories by 21.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,148 shares of the healthcare product maker’s stock valued at $79,026,000 after purchasing an additional 120,967 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $4,937,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $205,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Abbott Laboratories by 22.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 70,919 shares of the healthcare product maker’s stock worth $8,085,000 after acquiring an additional 12,842 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its stake in shares of Abbott Laboratories by 5.4% during the 3rd quarter. Vinva Investment Management Ltd now owns 80,659 shares of the healthcare product maker’s stock worth $9,068,000 after acquiring an additional 4,117 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

Shares of Abbott Laboratories stock opened at $118.77 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a fifty day moving average price of $115.87 and a 200 day moving average price of $110.39. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $206.00 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.80 and a beta of 0.72.

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

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.07.

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.