Abbott Laboratories (NYSE:ABT) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,810,977 shares of the healthcare product maker's stock after acquiring an additional 280,441 shares during the period. Wellington Management Group LLP owned 1.49% of Abbott Laboratories worth $2,942,709,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABT. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an "outperform" rating and a $130.00 price target for the company. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $130.07.

Abbott Laboratories Stock Up 0.0 %

Shares of ABT stock traded up $0.01 on Friday, reaching $115.60. 5,300,680 shares of the stock were exchanged, compared to its average volume of 4,720,173. The company has a market capitalization of $200.50 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.73 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business's 50 day moving average price is $116.09 and its 200 day moving average price is $110.68.

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 (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 business had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories's dividend payout ratio is currently 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.