Mattson Financial Services LLC Has $2.53 Million Position in Abbott Laboratories (NYSE:ABT)

Mattson Financial Services LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,350 shares of the healthcare product maker’s stock after selling 163 shares during the period. Mattson Financial Services LLC’s holdings in Abbott Laboratories were worth $2,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the period. Capital International Investors boosted its position in shares of Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares in the last quarter. Swedbank AB bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $341,777,000. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $264,876,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Abbott Laboratories by 493.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $114.61 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $112.54 and a 200 day moving average of $108.18. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market capitalization of $199.38 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $10.37 billion. During the same period last year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Barclays increased their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.15.

Insider Transactions at Abbott Laboratories

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