Wedge Capital Management L L P NC Buys 89 Shares of Abbott Laboratories (NYSE:ABT)

Wedge Capital Management L L P NC raised its stake in Abbott Laboratories (NYSE:ABT) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,153 shares of the healthcare product maker’s stock after purchasing an additional 89 shares during the period. Wedge Capital Management L L P NC’s holdings in Abbott Laboratories were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC boosted its stake in Abbott Laboratories by 83.5% in the third quarter. Fiduciary Alliance LLC now owns 7,304 shares of the healthcare product maker’s stock valued at $833,000 after acquiring an additional 3,324 shares in the last quarter. Novare Capital Management LLC boosted its position in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Novare Capital Management LLC now owns 106,549 shares of the healthcare product maker’s stock worth $12,148,000 after purchasing an additional 1,434 shares in the last quarter. Empirical Asset Management LLC grew its stake in Abbott Laboratories by 3.4% during the 3rd quarter. Empirical Asset Management LLC now owns 14,132 shares of the healthcare product maker’s stock worth $1,611,000 after buying an additional 464 shares during the last quarter. Stablepoint Partners LLC raised its stake in Abbott Laboratories by 1.1% in the third quarter. Stablepoint Partners LLC now owns 20,236 shares of the healthcare product maker’s stock valued at $2,307,000 after buying an additional 221 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $4,670,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 0.1 %

ABT stock opened at $117.90 on Friday. The firm’s fifty day moving average is $113.76 and its 200 day moving average is $108.47. The firm has a market cap of $205.10 billion, a PE ratio of 36.73, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. 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 announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. On average, research analysts forecast that Abbott Laboratories will post 4.66 EPS 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 given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. Piper Sandler Companies 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. UBS Group boosted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insider Activity

In related 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 transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.