Stonebrook Private Inc. Has $435,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Stonebrook Private Inc. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,815 shares of the healthcare product maker’s stock after selling 255 shares during the quarter. Stonebrook Private Inc.’s holdings in Abbott Laboratories were worth $435,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Nwam LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $2,348,000. Meridian Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $2,030,000. Studio Investment Management LLC increased its position in shares of Abbott Laboratories by 2.5% during the 3rd quarter. Studio Investment Management LLC now owns 7,015 shares of the healthcare product maker’s stock worth $800,000 after purchasing an additional 172 shares during the last quarter. Allen Capital Group LLC boosted its stake in shares of Abbott Laboratories by 11.1% during the 3rd quarter. Allen Capital Group LLC now owns 4,701 shares of the healthcare product maker’s stock worth $536,000 after acquiring an additional 471 shares during the period. Finally, CFS Investment Advisory Services LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $2,042,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’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 completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $117.76 on Friday. The stock has a market capitalization of $204.25 billion, a PE ratio of 35.79, a P/E/G ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a fifty day moving average price of $115.58 and a two-hundred day moving average price of $109.88. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABT. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Morgan Stanley boosted their price target 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

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.