MidWestOne Financial Group Inc. Has $4.21 Million Position in Abbott Laboratories (NYSE:ABT)

MidWestOne Financial Group Inc. lifted its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,476 shares of the healthcare product maker’s stock after purchasing an additional 670 shares during the quarter. Abbott Laboratories accounts for approximately 0.8% of MidWestOne Financial Group Inc.’s holdings, making the stock its 21st biggest holding. MidWestOne Financial Group Inc.’s holdings in Abbott Laboratories were worth $4,206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in Abbott Laboratories during the 4th quarter worth about $16,764,000. Garde Capital Inc. raised its stake in shares of Abbott Laboratories by 16.4% in the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock worth $205,000 after acquiring an additional 262 shares during the last quarter. Sectoral Asset Management Inc. lifted its position in shares of Abbott Laboratories by 31.4% during the fourth quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock worth $7,595,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Abbott Laboratories by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after purchasing an additional 8,224 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $112.43 on Friday. The company has a fifty day simple moving average of $111.57 and a 200 day simple moving average of $108.36. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market cap of $195.59 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

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 analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the firm posted $1.08 earnings per share. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABT shares. Piper Sandler began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Barclays upped their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.00.

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.