BBR Partners LLC Acquires 10,114 Shares of Abbott Laboratories (NYSE:ABT)

BBR Partners LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,043 shares of the healthcare product maker’s stock after buying an additional 10,114 shares during the quarter. Abbott Laboratories makes up approximately 0.5% of BBR Partners LLC’s portfolio, making the stock its 21st largest holding. BBR Partners LLC’s holdings in Abbott Laboratories were worth $6,846,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABT. Massachusetts Financial Services Co. MA raised its holdings in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after buying an additional 585,915 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Abbott Laboratories by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after buying an additional 508,524 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Abbott Laboratories by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in Abbott Laboratories by 8.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock valued at $761,996,000 after acquiring an additional 524,683 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of 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 boosted their target price 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. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Citigroup raised their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

NYSE ABT opened at $118.96 on Thursday. The company has a market capitalization of $206.33 billion, a P/E ratio of 36.16, a P/E/G ratio of 2.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a fifty day moving average of $115.67 and a 200-day moving average of $110.19.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm 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 13.99%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.85%. 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.