Courier Capital LLC Has $3.90 Million Stake in Abbott Laboratories (NYSE:ABT)

Courier Capital LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 51.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,245 shares of the healthcare product maker’s stock after purchasing an additional 11,697 shares during the quarter. Courier Capital LLC’s holdings in Abbott Laboratories were worth $3,904,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Boltwood Capital Management lifted its position in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the period. Atwood & Palmer Inc. raised its holdings in shares of Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after buying an additional 90 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock worth $461,000 after buying an additional 91 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in shares of Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after buying an additional 92 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABT shares. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a 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 report on Thursday, October 17th. Finally, Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Trading Up 0.2 %

Shares of ABT stock traded up $0.27 on Wednesday, hitting $116.39. The company had a trading volume of 981,260 shares, compared to its average volume of 5,719,642. The firm has a market cap of $202.48 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. The stock’s 50-day moving average is $114.31 and its two-hundred day moving average is $108.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued 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. The company had revenue of $10.64 billion during 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 13.65%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In related 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 transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate 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.