Abbott Laboratories (NYSE:ABT) is Bellevue Group AG’s 9th Largest Position

Bellevue Group AG boosted its position in Abbott Laboratories (NYSE:ABT) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,743,938 shares of the healthcare product maker’s stock after purchasing an additional 137,785 shares during the period. Abbott Laboratories comprises 3.2% of Bellevue Group AG’s portfolio, making the stock its 9th biggest holding. Bellevue Group AG’s holdings in Abbott Laboratories were worth $198,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC raised its position in Abbott Laboratories by 4.3% in the second quarter. Transcend Capital Advisors LLC now owns 8,705 shares of the healthcare product maker’s stock worth $905,000 after acquiring an additional 359 shares during the period. Versant Capital Management Inc raised its holdings in Abbott Laboratories by 17.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,206 shares of the healthcare product maker’s stock worth $125,000 after purchasing an additional 176 shares during the period. Bank & Trust Co purchased a new position in Abbott Laboratories during the second quarter valued at $257,000. Westend Capital Management LLC increased its position in Abbott Laboratories by 3,564.9% in the second quarter. Westend Capital Management LLC now owns 2,089 shares of the healthcare product maker’s stock worth $216,000 after buying an additional 2,032 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of Abbott Laboratories by 4.8% in the second quarter. Quent Capital LLC now owns 5,401 shares of the healthcare product maker’s stock worth $561,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABT shares. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. 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 note on Thursday, October 17th. Barclays upped 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. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Price Performance

ABT stock opened at $118.77 on Friday. The company has a fifty day simple moving average of $115.87 and a two-hundred day simple moving average of $110.39. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. 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 $206.00 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 2.80 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Analysts anticipate 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 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.