Abbott Laboratories (NYSE:ABT) Position Increased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its position in Abbott Laboratories (NYSE:ABT) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,283 shares of the healthcare product maker’s stock after acquiring an additional 3,055 shares during the period. Coldstream Capital Management Inc.’s holdings in Abbott Laboratories were worth $7,789,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $28,000. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC grew its stake in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. UBS Group boosted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT opened at $114.90 on Tuesday. The stock’s 50-day moving average price is $116.17 and its 200 day moving average price is $110.93. 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 firm has a market capitalization of $199.29 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.72 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $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 SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

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.