Armstrong Henry H Associates Inc. Has $2.66 Million Position in Abbott Laboratories (NYSE:ABT)

Armstrong Henry H Associates Inc. decreased its stake in Abbott Laboratories (NYSE:ABT) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,363 shares of the healthcare product maker’s stock after selling 650 shares during the quarter. Abbott Laboratories makes up about 0.3% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 21st largest position. Armstrong Henry H Associates Inc.’s holdings in Abbott Laboratories were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Cetera Advisor Networks LLC grew its position in Abbott Laboratories by 13.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 196,411 shares of the healthcare product maker’s stock worth $21,619,000 after acquiring an additional 22,659 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Abbott Laboratories by 4.2% during the 4th quarter. 1832 Asset Management L.P. now owns 75,157 shares of the healthcare product maker’s stock worth $8,273,000 after acquiring an additional 3,062 shares during the last quarter. Exencial Wealth Advisors LLC increased its position in Abbott Laboratories by 137.7% in the 4th quarter. Exencial Wealth Advisors LLC now owns 136,835 shares of the healthcare product maker’s stock valued at $15,061,000 after acquiring an additional 79,263 shares in the last quarter. Pinnacle West Asset Management Inc. raised its stake in shares of Abbott Laboratories by 2.5% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,255 shares of the healthcare product maker’s stock worth $909,000 after acquiring an additional 200 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Abbott Laboratories by 1.7% during the fourth quarter. Stephens Inc. AR now owns 109,322 shares of the healthcare product maker’s stock worth $12,033,000 after purchasing an additional 1,871 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ABT shares. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group restated a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.33.

Abbott Laboratories Stock Up 0.1 %

Abbott Laboratories stock opened at $113.64 on Thursday. The company has a fifty day simple moving average of $112.10 and a 200 day simple moving average of $108.19. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a market cap of $197.69 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released 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. 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 previous year, the business earned $1.08 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s payout ratio is 68.54%.

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.