Allied Investment Advisors LLC Has $9.66 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Allied Investment Advisors LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,743 shares of the healthcare product maker’s stock after acquiring an additional 2,225 shares during the quarter. Abbott Laboratories comprises 1.9% of Allied Investment Advisors LLC’s holdings, making the stock its 29th largest position. Allied Investment Advisors LLC’s holdings in Abbott Laboratories were worth $9,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after purchasing an additional 701,740 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $16,764,000. Garde Capital Inc. raised its holdings in Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after acquiring an additional 262 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Abbott Laboratories by 0.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after acquiring an additional 8,224 shares during the period. Finally, BDF Gestion acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $7,651,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

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 stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now 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 document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup upped 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, Piper Sandler started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $124.33.

Abbott Laboratories Trading Up 0.4 %

Shares of NYSE:ABT traded up $0.41 during mid-day trading on Friday, reaching $112.64. 4,366,288 shares of the company’s stock were exchanged, compared to its average volume of 5,757,640. The firm has a market capitalization of $195.95 billion, a price-to-earnings ratio of 35.09, a PEG 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. The business’s fifty day moving average price is $112.37 and its 200-day moving average price is $108.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. On average, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.