Abbott Laboratories (NYSE:ABT) Shares Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 67.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,083 shares of the healthcare product maker's stock after acquiring an additional 5,664 shares during the quarter. Simplify Asset Management Inc.'s holdings in Abbott Laboratories were worth $1,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter worth about $28,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter worth about $32,000. Valued Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after buying an additional 127 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories in the second quarter worth about $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.87 during midday trading on Friday, hitting $115.90. 6,873,094 shares of the stock traded hands, compared to its average volume of 5,701,520. The firm has a 50-day moving average of $115.49 and a two-hundred day moving average of $109.43. The firm has a market capitalization of $201.02 billion, a P/E ratio of 35.00, a PEG ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $97.64 and a one year high of $121.64.

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

Abbott Laboratories Dividend Announcement

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 paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories's payout ratio is currently 66.87%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm's 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 of the company's stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Edward Jones downgraded Abbott Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Raymond James restated a "buy" rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an "overweight" rating and a $131.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $130.07.

About Abbott Laboratories

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.