Copperwynd Financial LLC Has $913,000 Position in Abbott Laboratories (NYSE:ABT)

Copperwynd Financial LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 36.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,620 shares of the healthcare product maker’s stock after purchasing an additional 2,282 shares during the quarter. Copperwynd Financial LLC’s holdings in Abbott Laboratories were worth $913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanson & Doremus Investment Management grew its position in Abbott Laboratories by 0.8% during the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after acquiring an additional 92 shares during the last quarter. Encompass More Asset Management grew its holdings in shares of Abbott Laboratories by 3.3% during the 2nd quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after purchasing an additional 96 shares during the last quarter. Wynn Capital LLC raised its position in Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the period. Hummer Financial Advisory Services Inc lifted its stake in Abbott Laboratories by 1.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock worth $942,000 after purchasing an additional 100 shares during the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC grew its stake in shares of Abbott Laboratories by 1.9% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock valued at $613,000 after buying an additional 100 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.3 %

NYSE ABT opened at $112.43 on Friday. The stock’s 50 day moving average is $111.57 and its 200 day moving average is $108.28. 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 $195.59 billion, a PE ratio of 35.02, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the company posted $1.08 EPS. Abbott Laboratories’s revenue was up 4.0% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 1.96%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insider Activity

In related 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 value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The sale was disclosed in a 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 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.