Certified Advisory Corp Makes New Investment in Abbott Laboratories (NYSE:ABT)

Certified Advisory Corp bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,990 shares of the healthcare product maker’s stock, valued at approximately $622,000.

Several other large investors also recently modified their holdings of ABT. Gilbert & Cook Inc. grew its holdings in shares of Abbott Laboratories by 17.4% during the 4th quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after purchasing an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC boosted its stake in 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 buying an additional 152 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in 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 valued at $388,000 after buying an additional 413 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Abbott Laboratories by 3.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after buying an additional 3,767 shares in the last quarter. Finally, TrinityPoint Wealth LLC boosted its stake in Abbott Laboratories by 1.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after buying an additional 376 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ABT shares. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Piper Sandler assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Finally, Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $123.33.

Abbott Laboratories Trading Up 0.9 %

Shares of Abbott Laboratories stock opened at $114.78 on Tuesday. 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 52 week low of $89.67 and a 52 week high of $121.64. The stock has a 50 day moving average price of $110.74 and a two-hundred day moving average price of $108.41. The stock 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.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS 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 firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed 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 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.