Resources Management Corp CT ADV Buys 522 Shares of Abbott Laboratories (NYSE:ABT)

Resources Management Corp CT ADV lifted its stake in Abbott Laboratories (NYSE:ABT) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,727 shares of the healthcare product maker’s stock after buying an additional 522 shares during the period. Resources Management Corp CT ADV’s holdings in Abbott Laboratories were worth $6,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $12,463,000. Magnetar Financial LLC increased its holdings in Abbott Laboratories by 60.5% in the 2nd quarter. Magnetar Financial LLC now owns 782,794 shares of the healthcare product maker’s stock valued at $81,340,000 after buying an additional 294,939 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Abbott Laboratories by 4.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 636,466 shares of the healthcare product maker’s stock valued at $66,135,000 after buying an additional 29,044 shares in the last quarter. J. Stern & Co. LLP lifted its holdings in shares of Abbott Laboratories by 3.6% during the 2nd quarter. J. Stern & Co. LLP now owns 295,156 shares of the healthcare product maker’s stock worth $30,670,000 after acquiring an additional 10,316 shares during the period. Finally, Certified Advisory Corp acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $622,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $114.78 on Tuesday. The firm has a market cap of $199.68 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. 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 stock 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 posted its quarterly 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 4.66 EPS 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 is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABT. Evercore ISI dropped their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

About Abbott Laboratories

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.