Borer Denton & Associates Inc. Purchases 1,370 Shares of Abbott Laboratories (NYSE:ABT)

Borer Denton & Associates Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,253 shares of the healthcare product maker’s stock after acquiring an additional 1,370 shares during the quarter. Abbott Laboratories accounts for about 3.0% of Borer Denton & Associates Inc.’s portfolio, making the stock its 14th largest position. Borer Denton & Associates Inc.’s holdings in Abbott Laboratories were worth $8,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Larson Financial Group LLC lifted its stake in Abbott Laboratories by 11.0% in the third quarter. Larson Financial Group LLC now owns 12,344 shares of the healthcare product maker’s stock valued at $1,407,000 after purchasing an additional 1,224 shares during the last quarter. StoneX Group Inc. grew its stake in shares of Abbott Laboratories by 10.9% in the third quarter. StoneX Group Inc. now owns 12,915 shares of the healthcare product maker’s stock worth $1,472,000 after purchasing an additional 1,268 shares during the last quarter. CMG Global Holdings LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $207,000. Cerity Partners LLC raised its stake in Abbott Laboratories by 9.6% during the third quarter. Cerity Partners LLC now owns 967,938 shares of the healthcare product maker’s stock valued at $110,355,000 after buying an additional 84,693 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Abbott Laboratories by 0.4% during the third quarter. Great Valley Advisor Group Inc. now owns 24,902 shares of the healthcare product maker’s stock valued at $2,839,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock opened at $117.76 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The business has a 50 day moving average price of $115.58 and a 200 day moving average price of $109.91. 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 stock has a market cap of $204.25 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s payout ratio is 66.87%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABT shares. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report 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 company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

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.