Y Intercept Hong Kong Ltd Buys New Holdings in Abbott Laboratories (NYSE:ABT)

Y Intercept Hong Kong Ltd acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 48,106 shares of the healthcare product maker's stock, valued at approximately $5,485,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lantz Financial LLC grew its holdings in shares of Abbott Laboratories by 5.2% in the second quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker's stock worth $596,000 after purchasing an additional 281 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Abbott Laboratories by 3.0% during the second quarter. RFG Advisory LLC now owns 13,637 shares of the healthcare product maker's stock valued at $1,417,000 after acquiring an additional 391 shares during the last quarter. Alpha Cubed Investments LLC boosted its holdings in shares of Abbott Laboratories by 6.7% during the second quarter. Alpha Cubed Investments LLC now owns 7,621 shares of the healthcare product maker's stock worth $792,000 after purchasing an additional 478 shares during the period. Cooper Financial Group grew its stake in shares of Abbott Laboratories by 2.7% in the second quarter. Cooper Financial Group now owns 4,052 shares of the healthcare product maker's stock worth $421,000 after purchasing an additional 107 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in Abbott Laboratories by 47.0% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 15,875 shares of the healthcare product maker's stock valued at $1,650,000 after purchasing an additional 5,073 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 0.6 %

Abbott Laboratories stock traded down $0.70 during mid-day trading on Monday, reaching $114.90. The stock had a trading volume of 4,867,419 shares, compared to its average volume of 5,641,463. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company has a 50-day moving average price of $116.17 and a two-hundred day moving average price of $110.93. The company has a market capitalization of $199.29 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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. 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 during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued 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 1.91%. Abbott Laboratories's payout ratio is 66.87%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABT shares. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an "overweight" rating and a $131.00 target price for the company. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $130.07.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

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.