Sendero Wealth Management LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

Sendero Wealth Management LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 101.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,823 shares of the healthcare product maker’s stock after purchasing an additional 8,465 shares during the period. Sendero Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after acquiring an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $16,764,000. Garde Capital Inc. grew its position in Abbott Laboratories by 16.4% during the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 262 shares during the period. Public Employees Retirement System of Ohio raised its position in Abbott Laboratories by 0.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock worth $98,490,000 after acquiring an additional 8,224 shares during the period. Finally, BDF Gestion purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth $7,651,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.19 during trading hours on Thursday, hitting $115.76. The stock had a trading volume of 1,582,584 shares, compared to its average volume of 5,726,890. The stock’s 50-day moving average price is $112.93 and its two-hundred day moving average price is $108.26. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock has a market capitalization of $201.38 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

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

Abbott Laboratories Announces Dividend

The firm 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 dividend yield of 1.90%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ABT shares. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday, September 26th. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. 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 price target on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.15.

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.