Bruce G. Allen Investments LLC Has $276,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Bruce G. Allen Investments LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the healthcare product maker’s stock after acquiring an additional 216 shares during the period. Bruce G. Allen Investments LLC’s holdings in Abbott Laboratories were worth $276,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 worth $18,788,216,000 after buying an additional 8,834,840 shares during the period. Capital International Investors lifted its position in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Swedbank AB bought a new stake in Abbott Laboratories during the first quarter valued at about $341,777,000. Sessa Capital IM L.P. acquired a new stake in shares of Abbott Laboratories in the second quarter valued at about $264,876,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Abbott Laboratories by 493.1% during 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 purchasing an additional 1,996,320 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $115.96 on Thursday. The business’s fifty day moving average price is $112.73 and its two-hundred day moving average price is $108.21. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock has a market capitalization of $201.73 billion, a price-to-earnings ratio of 36.12, 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 current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research analyst reports. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday. They issued an “outperform” rating and a $130.00 target price on the stock. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. Piper Sandler began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Finally, Evercore ISI upped 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.15.

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.