Groupama Asset Managment Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Groupama Asset Managment increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 22.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,448 shares of the healthcare product maker's stock after acquiring an additional 41,557 shares during the period. Groupama Asset Managment's holdings in Abbott Laboratories were worth $26,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth $32,000. Finally, Valued Wealth Advisors LLC increased its position 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 purchasing an additional 127 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Piper Sandler lifted their price objective 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. Citigroup boosted 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. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Barclays increased their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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 transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $1.35 during trading hours on Wednesday, reaching $114.15. The stock had a trading volume of 4,747,743 shares, compared to its average volume of 5,631,157. The stock has a 50 day simple moving average of $116.21 and a 200 day simple moving average of $111.01. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The stock has a market cap of $197.99 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.72 and a beta of 0.73. 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 (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 (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories's payout ratio is 66.87%.

Abbott Laboratories Company 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.