Itau Unibanco Holding S.A. Purchases New Holdings in Abbott Laboratories (NYSE:ABT)

Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 307 shares of the healthcare product maker’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $30,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC raised its holdings in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ABT shares. Piper Sandler assumed coverage on Abbott Laboratories in a research report on Thursday. They issued an “overweight” rating and a $131.00 target price for the company. Barclays boosted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI lowered their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

Insider Transactions at Abbott Laboratories

In other 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 transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT opened at $113.70 on Monday. The company has a market cap of $197.80 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a fifty day moving average price of $110.50 and a two-hundred day moving average price of $108.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. Analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.