Parkside Advisors LLC Invests $247,000 in Abbott Laboratories (NYSE:ABT)

Parkside Advisors LLC purchased a new position in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,170 shares of the healthcare product maker’s stock, valued at approximately $247,000.

Several other large investors have also recently added to or reduced their stakes in ABT. Regal Investment Advisors LLC raised its position in shares of Abbott Laboratories by 9.6% during the 4th quarter. Regal Investment Advisors LLC now owns 10,800 shares of the healthcare product maker’s stock worth $1,189,000 after purchasing an additional 943 shares during the period. Nomura Holdings Inc. raised its position in shares of Abbott Laboratories by 1,566.0% during the 4th quarter. Nomura Holdings Inc. now owns 34,986 shares of the healthcare product maker’s stock worth $3,851,000 after purchasing an additional 32,886 shares during the period. MGO One Seven LLC raised its position in shares of Abbott Laboratories by 30.3% during the 4th quarter. MGO One Seven LLC now owns 23,743 shares of the healthcare product maker’s stock worth $2,613,000 after purchasing an additional 5,521 shares during the period. Hancock Whitney Corp raised its position in shares of Abbott Laboratories by 5.2% during the 4th quarter. Hancock Whitney Corp now owns 25,353 shares of the healthcare product maker’s stock worth $2,791,000 after purchasing an additional 1,249 shares during the period. Finally, Rench Wealth Management Inc. raised its position in shares of Abbott Laboratories by 0.7% during the 4th quarter. Rench Wealth Management Inc. now owns 68,998 shares of the healthcare product maker’s stock worth $7,595,000 after purchasing an additional 454 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 1.1 %

Abbott Laboratories stock opened at $114.61 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a market cap of $199.38 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm’s 50 day moving average price is $112.73 and its two-hundred day moving average price is $108.21.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.65% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ABT shares. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Piper Sandler assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have issued 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 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.