Abbott Laboratories (NYSE:ABT) Stock Holdings Raised by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,858 shares of the healthcare product maker’s stock after purchasing an additional 4,386 shares during the period. Daymark Wealth Partners LLC’s holdings in Abbott Laboratories were worth $5,389,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after acquiring an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $16,764,000. Garde Capital Inc. boosted its holdings in shares of Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 262 shares during the period. Sectoral Asset Management Inc. grew its position in shares of Abbott Laboratories by 31.4% during the 4th quarter. Sectoral Asset Management Inc. now owns 68,998 shares of the healthcare product maker’s stock valued at $7,595,000 after buying an additional 16,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Abbott Laboratories by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock worth $98,490,000 after acquiring an additional 8,224 shares during the period. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction 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 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 filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.6 %

Shares of ABT stock opened at $112.61 on Thursday. Abbott Laboratories has a 1 year low of $89.67 and a 1 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. The business’s fifty day moving average is $110.95 and its 200-day moving average is $108.36. The stock has a market cap of $195.90 billion, a PE ratio of 35.08, 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, topping 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 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 company earned $1.08 earnings per share. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.95%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABT shares. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.33.

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.