Abbott Laboratories (NYSE:ABT) Shares Acquired by Annandale Capital LLC

Annandale Capital LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 1,125.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,124 shares of the healthcare product maker’s stock after buying an additional 30,421 shares during the period. Annandale Capital LLC’s holdings in Abbott Laboratories were worth $3,442,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ABT. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital Research Global Investors lifted its stake in Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after purchasing an additional 7,527,778 shares in the last quarter. Capital International Investors boosted its position in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the period. Swedbank AB acquired a new stake in shares of Abbott Laboratories in the first quarter valued at $341,777,000. Finally, Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories during the second quarter worth about $264,876,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Abbott Laboratories Stock Down 0.3 %

Shares of NYSE ABT opened at $112.43 on Friday. The business has a 50-day moving average price of $111.57 and a 200 day moving average price of $108.28. The stock has a market cap of $195.59 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis 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 currently 68.54%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

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.