3,213 Shares in Abbott Laboratories (NYSE:ABT) Bought by Wellington Wealth Strategies LLC.

Wellington Wealth Strategies LLC. bought a new stake in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,213 shares of the healthcare product maker’s stock, valued at approximately $334,000. Abbott Laboratories comprises 1.5% of Wellington Wealth Strategies LLC.’s holdings, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at about $30,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the second quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.3 %

ABT stock opened at $112.43 on Monday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market capitalization 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. The company’s 50 day simple moving average is $111.57 and its 200-day simple moving average is $108.19.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

A number of analysts have commented on ABT shares. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Insider Transactions at Abbott Laboratories

In other 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 completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company 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.