Anchor Investment Management LLC Buys 232 Shares of Abbott Laboratories (NYSE:ABT)

Anchor Investment Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,728 shares of the healthcare product maker’s stock after purchasing an additional 232 shares during the quarter. Anchor Investment Management LLC’s holdings in Abbott Laboratories were worth $5,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the second quarter valued at $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $113.64 on Thursday. The company has a market capitalization of $197.69 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. 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 52-week low of $89.67 and a 52-week high of $121.64. The company has a 50-day simple moving average of $112.10 and a 200 day simple moving average of $108.19.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS 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 business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABT shares. Jefferies Financial Group restated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup lifted 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. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Finally, Piper Sandler assumed 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 for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

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.