Abbott Laboratories (NYSE:ABT) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,846 shares of the healthcare product maker’s stock after purchasing an additional 474 shares during the quarter. Abbott Laboratories accounts for about 1.4% of Providence Capital Advisors LLC’s holdings, making the stock its 19th largest holding. Providence Capital Advisors LLC’s holdings in Abbott Laboratories were worth $6,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Abbott Laboratories by 17.4% in the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after buying an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC lifted its position in shares of Abbott Laboratories by 1.2% in the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 13.3% in the fourth quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after acquiring an additional 413 shares during the last quarter. Gryphon Financial Partners LLC increased its position in shares of Abbott Laboratories by 3.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock worth $12,252,000 after purchasing an additional 3,767 shares in the last quarter. Finally, TrinityPoint Wealth LLC raised its stake in Abbott Laboratories by 1.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after purchasing an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.9 %

Abbott Laboratories stock opened at $114.78 on Tuesday. The company has a market capitalization of $199.68 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a 50 day moving average price of $110.74 and a 200 day moving average price of $108.41.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.