Cape ANN Savings Bank Increases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Cape ANN Savings Bank grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,453 shares of the healthcare product maker’s stock after purchasing an additional 165 shares during the quarter. Cape ANN Savings Bank’s holdings in Abbott Laboratories were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors grew its holdings in 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 valued at $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Swedbank AB purchased a new stake in Abbott Laboratories in the first quarter worth about $341,777,000. Sessa Capital IM L.P. bought a new position in shares of Abbott Laboratories in the second quarter worth about $264,876,000. Finally, Assenagon Asset Management S.A. increased its holdings in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after acquiring an additional 1,996,320 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Citigroup lifted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. 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 report on Monday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a report on Thursday, September 26th. Piper Sandler started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Finally, Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Three equities 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 a consensus rating of “Moderate Buy” and an average target price of $125.15.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 1.1 %

ABT stock opened at $114.61 on Wednesday. The firm has a fifty day moving average price of $112.54 and a 200 day moving average price of $108.18. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market cap of $199.38 billion, a PE ratio of 35.70, 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 (NYSE:ABT) last issued its quarterly earnings data 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 net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the company posted $1.08 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.