Abbott Laboratories $ABT Stock Holdings Boosted by Trek Financial LLC

Trek Financial LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 28.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 27,555 shares of the healthcare product maker’s stock after acquiring an additional 6,052 shares during the period. Trek Financial LLC’s holdings in Abbott Laboratories were worth $2,723,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ABT. Bank of America Corp DE bought a new position in Abbott Laboratories during the second quarter worth about $1,603,607,000. Legal & General Group Plc bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $1,082,524,000. Flossbach Von Storch SE bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $902,938,000. Jupiter Topco LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $732,788,000. Finally, BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after buying an additional 6,769,518 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on ABT shares. Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price target for the company from $119.00 to $127.00 in a research note on Friday, October 2nd. Wall Street Zen upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Argus cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Thursday, August 13th. Finally, Barclays began coverage on shares of Abbott Laboratories in a research report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

Abbott Laboratories Trading Up 3.8%

ABT stock opened at $110.27 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The stock has a market capitalization of $190.80 billion, a price-to-earnings ratio of 41.14, a P/E/G ratio of 1.80 and a beta of 0.59. The business has a fifty day moving average price of $104.23 and a 200 day moving average price of $101.99. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $132.02.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting the consensus estimate of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.