Strategic Investment Solutions Inc. IL Makes New $207,000 Investment in Abbott Laboratories (NYSE:ABT)

Strategic Investment Solutions Inc. IL purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,944 shares of the healthcare product maker’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the second quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories during the second quarter worth $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the topic of several research reports. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday, September 26th. 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 research note on Monday, July 29th. Piper Sandler initiated 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 for the company. Finally, Citigroup upped 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $113.58 on Wednesday. The firm has a market capitalization of $197.59 billion, a P/E ratio of 35.38, a P/E/G ratio of 2.86 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The firm’s 50 day moving average is $111.97 and its two-hundred day moving average is $108.15.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid 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 yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.