Abbott Laboratories (NYSE:ABT) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in Abbott Laboratories (NYSE:ABT) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,418,470 shares of the healthcare product maker’s stock after purchasing an additional 100,821 shares during the quarter. Sei Investments Co. owned 0.08% of Abbott Laboratories worth $147,394,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC boosted its position in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler started coverage on Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 price objective for the company. Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Barclays increased their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $113.69 on Friday. The stock’s 50-day moving average is $110.50 and its two-hundred day moving average is $108.60. 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 1 year low of $89.67 and a 1 year high of $121.64. The firm has a market cap of $197.78 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

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.