IHT Wealth Management LLC Purchases 8,117 Shares of Abbott Laboratories (NYSE:ABT)

IHT Wealth Management LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,352 shares of the healthcare product maker’s stock after acquiring an additional 8,117 shares during the quarter. IHT Wealth Management LLC’s holdings in Abbott Laboratories were worth $5,282,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC raised its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $116.29 on Wednesday. The business has a fifty day simple moving average of $115.96 and a 200 day simple moving average of $110.60. The company has a market cap of $201.70 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.75 and a beta of 0.73. 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 has a twelve month low of $99.71 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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 company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ABT shares. Morgan Stanley upped their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.