1,917 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Cahill Financial Advisors Inc.

Cahill Financial Advisors Inc. acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, HoldingsChannel reports. The firm acquired 1,917 shares of the healthcare product maker’s stock, valued at approximately $219,000.

Other large investors have also modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $32,000. 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 company’s stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $117.76 on Monday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market capitalization of $204.25 billion, a PE ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72. The company has a 50 day moving average price of $115.58 and a 200-day moving average price of $109.94.

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

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Piper Sandler lifted 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. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. 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 note on Thursday, October 17th. Mizuho lifted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays increased their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. 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, Abbott Laboratories has a consensus 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.