Tilia Fiduciary Partners Inc. Makes New $233,000 Investment in Abbott Laboratories (NYSE:ABT)

Tilia Fiduciary Partners Inc. purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,048 shares of the healthcare product maker’s stock, valued at approximately $233,000.

A number of other large investors have also made changes to their positions in the stock. First PREMIER Bank grew its holdings in shares of Abbott Laboratories by 8.3% in the 3rd quarter. First PREMIER Bank now owns 8,703 shares of the healthcare product maker’s stock worth $993,000 after acquiring an additional 666 shares during the period. True North Advisors LLC grew its stake in Abbott Laboratories by 2.6% in the 3rd quarter. True North Advisors LLC now owns 7,947 shares of the healthcare product maker’s stock valued at $906,000 after acquiring an additional 198 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Abbott Laboratories by 268.1% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 20,852 shares of the healthcare product maker’s stock worth $2,377,000 after acquiring an additional 15,187 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Finally, Parkside Advisors LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $247,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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.

Abbott Laboratories Stock Up 0.1 %

NYSE ABT traded up $0.08 during mid-day trading on Wednesday, reaching $114.71. 362,774 shares of the company’s stock traded hands, compared to its average volume of 5,728,637. The company has a market cap of $199.55 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 2.86 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $112.73 and a 200-day simple moving average of $108.21. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $10.37 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

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 paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.92%. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABT shares. Piper Sandler started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday. They set an “outperform” rating and a $130.00 target price on the stock. Finally, Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target 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.