Tidal Investments LLC Purchases 25,052 Shares of Abbott Laboratories (NYSE:ABT)

Tidal Investments LLC raised its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 30.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 107,308 shares of the healthcare product maker's stock after purchasing an additional 25,052 shares during the quarter. Tidal Investments LLC's holdings in Abbott Laboratories were worth $12,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the second quarter valued at $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth about $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Citigroup increased their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Raymond James reaffirmed a "buy" rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $130.07.

Abbott Laboratories Stock Performance

ABT stock traded down $0.30 during midday trading on Friday, hitting $113.56. The company's stock had a trading volume of 2,729,936 shares, compared to its average volume of 5,610,926. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.69 and a beta of 0.73. The stock's 50-day moving average price is $116.25 and its 200 day moving average price is $111.06. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.08%. Abbott Laboratories's dividend payout ratio is 66.87%.

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.