Trilogy Capital Inc. Acquires 132 Shares of Abbott Laboratories (NYSE:ABT)

Trilogy Capital Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,503 shares of the healthcare product maker’s stock after purchasing an additional 132 shares during the quarter. Trilogy Capital Inc.’s holdings in Abbott Laboratories were worth $285,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. 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.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $116.12 on Wednesday. The company has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. The business has a fifty day simple moving average of $114.31 and a two-hundred day simple moving average of $108.56. 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 has a 1 year low of $91.64 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. On average, analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

ABT has been the subject of several research reports. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $129.67.

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.