J. Stern & Co. LLP Has $30.67 Million Position in Abbott Laboratories (NYSE:ABT)

J. Stern & Co. LLP increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,156 shares of the healthcare product maker’s stock after purchasing an additional 10,316 shares during the period. Abbott Laboratories makes up about 3.7% of J. Stern & Co. LLP’s holdings, making the stock its 15th biggest position. J. Stern & Co. LLP’s holdings in Abbott Laboratories were worth $30,670,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new stake in shares of 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 fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the 1st quarter valued at $30,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the 2nd quarter worth $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were 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 approximately $25,617,068.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $113.70 on Monday. The company has a 50-day moving average price of $110.50 and a two-hundred day moving average price of $108.45. Abbott Laboratories has a twelve month low of $89.67 and a twelve 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 firm has a market capitalization of $197.80 billion, a PE ratio of 35.42, a P/E/G ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given 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 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABT shares. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Piper Sandler started coverage on shares of Abbott Laboratories in a research report on Thursday. They set an “overweight” rating and a $131.00 target price on the stock. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Citigroup boosted 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. Finally, Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $123.33.

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.