Aprio Wealth Management LLC Purchases 1,198 Shares of Abbott Laboratories (NYSE:ABT)

Aprio Wealth Management LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 48.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,676 shares of the healthcare product maker’s stock after acquiring an additional 1,198 shares during the quarter. Aprio Wealth Management LLC’s holdings in Abbott Laboratories were worth $419,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on ABT shares. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Piper Sandler started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Barclays lifted 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. Finally, Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.77.

Abbott Laboratories Trading Up 0.6 %

Shares of NYSE ABT opened at $113.35 on Tuesday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a 50 day moving average price of $112.37 and a two-hundred day moving average price of $108.16. The stock has a market cap of $197.19 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The business also recently announced 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. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by 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.