Abbott Laboratories (NYSE:ABT) Shares Bought by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 47.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,488 shares of the healthcare product maker’s stock after buying an additional 2,741 shares during the period. Transatlantique Private Wealth LLC’s holdings in Abbott Laboratories were worth $878,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, True Wealth Design LLC grew its stake in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABT shares. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday. They set an “overweight” rating and a $131.00 price objective on the stock. Citigroup increased 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. Piper Sandler started coverage on Abbott Laboratories in a report on Thursday. They set an “overweight” rating and a $131.00 target price on the stock. Finally, Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $113.69 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $110.50 and its two-hundred day moving average price is $108.60. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market capitalization of $197.78 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.