Abbott Laboratories (NYSE:ABT) Shares Bought by Security National Bank of SO Dak

Security National Bank of SO Dak increased its stake in Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,863 shares of the healthcare product maker’s stock after buying an additional 250 shares during the quarter. Abbott Laboratories comprises 1.5% of Security National Bank of SO Dak’s portfolio, making the stock its 23rd largest position. Security National Bank of SO Dak’s holdings in Abbott Laboratories were worth $2,480,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Hanson & Doremus Investment Management grew its holdings in 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 valued at $1,160,000 after purchasing an additional 92 shares in the last quarter. Encompass More Asset Management grew its stake in shares of Abbott Laboratories by 3.3% during the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after acquiring an additional 96 shares in the last quarter. Wynn Capital LLC increased its position in shares of Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its stake in shares of Abbott Laboratories by 1.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,396 shares of the healthcare product maker’s stock worth $613,000 after acquiring an additional 100 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc boosted its holdings in Abbott Laboratories by 1.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after purchasing an additional 100 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ABT shares. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Piper Sandler started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Abbott Laboratories Stock Up 0.1 %

NYSE:ABT opened at $112.70 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $111.36 and a 200-day moving average of $108.42. The firm has a market capitalization of $196.06 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on 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 of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.