Recently, several institutional investors have adjusted their stakes in Abbott Laboratories. Unique Wealth Strategies LLC invested around $28,000 in the second quarter, while Transcendent Capital and Richardson Financial Services bought shares worth approximately $29,000 each in the fourth quarter. Redmont Wealth Advisors acquired a $30,000 stake in the first quarter, and Itau Unibanco bought shares worth about $32,000 in the second quarter. Currently, 75.18% of Abbott’s stock is held by institutional investors.
Insider Activity
On September 12, CEO Robert B. Ford sold 141,679 shares at an average price of $116.41, totaling over $16.49 million. He now owns 220,059 shares valued around $25.62 million. This transaction was reported to the SEC. Insiders hold 1.10% of the company’s stock.
Analysts Set New Price Targets
Equities analysts have recently updated their ratings for Abbott Laboratories. Evercore ISI raised their target from $120.00 to $124.00, rating it outperform. Jefferies maintained a hold rating at $120.00. Edward Jones downgraded it from buy to hold, while Piper Sandler began coverage with an overweight rating at $131.00. Citigroup increased their target from $119.00 to $127.00, giving it a buy rating. The consensus rating is Moderate Buy with a price target of $124.33.
Get Our Latest Stock Report on Abbott Laboratories
Abbott Laboratories Trading Activity
On Thursday, ABT opened at $113.64, with a market cap of $197.69 billion. Key metrics include a P/E ratio of 35.40, a quick ratio of 1.18, and a debt-to-equity ratio of 0.33. The stock has a 52-week range of $89.67 to $121.64.
Abbott reported earnings of $1.14 per share for the last quarter, exceeding analysts’ estimates of $1.10, and revenue of $10.38 billion, up 4% from last year.
Dividend Announcement
Abbott announced a quarterly dividend of $0.55, payable on November 15th to stockholders recorded by October 15th. This represents an annual yield of 1.94% with a payout ratio of 68.54%.
Abbott Laboratories Overview
Abbott, along with its subsidiaries, develops and sells healthcare products across four segments: pharmaceuticals, diagnostic products, nutritional products, and medical devices.
Featured Stories
- Five stocks we like better than Abbott Laboratories
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- How to Buy Cheap Stocks Step by Step
- Nikes Post-Earnings Drop Presents a Buying Opportunity
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Microsofts Targeted Upside Might Be Too Good to Ignore
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com for the latest insider trades for Abbott Laboratories (NYSE:ABT Free Report).
Subscribe for Daily News & Ratings on Abbott Laboratories – Enter your email for a daily summary of the latest news and analyst ratings from MarketBeat.com.
`
