TSG Advice Partners LLC Acquires New Position in Abbott Laboratories $ABT

TSG Advice Partners LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,845 shares of the healthcare product maker’s stock, valued at approximately $530,000.

Other hedge funds also recently made changes to their positions in the company. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Abbott Laboratories by 3.1% during the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock valued at $318,000 after acquiring an additional 97 shares in the last quarter. Parkway Wealth Management Group LLC lifted its stake in Abbott Laboratories by 3.2% during the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after purchasing an additional 98 shares during the last quarter. St. Johns Investment Management Company LLC boosted its holdings in Abbott Laboratories by 1.0% in the second quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after purchasing an additional 101 shares during the period. AA Financial Advisors LLC boosted its holdings in Abbott Laboratories by 1.7% in the third quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after purchasing an additional 101 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in Abbott Laboratories by 1.2% during the third quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock valued at $835,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $110.27 on Tuesday. The firm has a market capitalization of $190.80 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The stock’s fifty day moving average is $104.23 and its 200-day moving average is $101.99.

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

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ABT shares. Argus cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 13th. BTIG Research lowered their price objective on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. UBS Group dropped their price objective on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Two investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.32.

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.