Abbott Laboratories (NYSE:ABT) Shares Bought by Dillon & Associates Inc.

Dillon & Associates Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,347 shares of the healthcare product maker's stock after acquiring an additional 4,364 shares during the period. Abbott Laboratories accounts for about 3.4% of Dillon & Associates Inc.'s holdings, making the stock its 7th biggest position. Dillon & Associates Inc.'s holdings in Abbott Laboratories were worth $23,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its stake 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 worth $33,000 after buying an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 0.5 %

Shares of ABT traded down $0.58 during mid-day trading on Wednesday, hitting $115.86. The company had a trading volume of 2,035,932 shares, compared to its average volume of 5,692,008. Abbott Laboratories has a 1-year low of $96.20 and a 1-year high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business's 50-day simple moving average is $115.43 and its 200-day simple moving average is $109.35. The stock has a market cap of $200.95 billion, a PE ratio of 35.25, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for 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%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories's payout ratio is 66.87%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, October 17th. Edward Jones cut Abbott Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Barclays boosted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler raised their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value 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 $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.