Great Waters Wealth Management Buys 108 Shares of Abbott Laboratories (NYSE:ABT)

Great Waters Wealth Management boosted its stake in Abbott Laboratories (NYSE:ABT) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,186 shares of the healthcare product maker’s stock after acquiring an additional 108 shares during the period. Great Waters Wealth Management’s holdings in Abbott Laboratories were worth $477,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ABT. Allied Investment Advisors LLC raised its position in shares of Abbott Laboratories by 2.7% in the third quarter. Allied Investment Advisors LLC now owns 84,743 shares of the healthcare product maker’s stock valued at $9,662,000 after purchasing an additional 2,225 shares during the period. Thrive Wealth Management LLC raised its position in shares of Abbott Laboratories by 3.8% in the third quarter. Thrive Wealth Management LLC now owns 3,750 shares of the healthcare product maker’s stock valued at $427,000 after purchasing an additional 136 shares during the period. First Citizens Financial Corp bought a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $207,000. Duncan Williams Asset Management LLC bought a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $401,000. Finally, Apella Capital LLC raised its position in shares of Abbott Laboratories by 3.1% in the third quarter. Apella Capital LLC now owns 6,191 shares of the healthcare product maker’s stock valued at $704,000 after purchasing an additional 185 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

Shares of Abbott Laboratories stock traded up $0.41 during trading on Friday, reaching $112.64. The company’s stock had a trading volume of 4,366,288 shares, compared to its average volume of 5,757,640. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a market cap of $195.95 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.86 and a beta of 0.72. The firm’s 50-day moving average is $112.37 and its two-hundred day moving average is $108.22. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABT. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday. 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 target price on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Finally, Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

About Abbott Laboratories

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.