Abbott Laboratories $ABT Shares Purchased by True Freedom Investing LLC

True Freedom Investing LLC grew its position in Abbott Laboratories (NYSE:ABT) by 32.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 57,283 shares of the healthcare product maker’s stock after purchasing an additional 13,874 shares during the quarter. True Freedom Investing LLC’s holdings in Abbott Laboratories were worth $5,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Elwood & Goetz Wealth Advisory Group LLC increased its stake in Abbott Laboratories by 3.1% in the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock valued at $318,000 after acquiring an additional 97 shares during the last quarter. Parkway Wealth Management Group LLC raised its position in Abbott Laboratories by 3.2% during the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock valued at $317,000 after purchasing an additional 98 shares in the last quarter. St. Johns Investment Management Company LLC lifted its stake in Abbott Laboratories by 1.0% during the second quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after purchasing an additional 101 shares during the last quarter. AA Financial Advisors LLC lifted its stake in Abbott Laboratories by 1.7% during the third quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after purchasing an additional 101 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Abbott Laboratories by 1.2% in the 3rd quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock valued at $835,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Royal Bank Of Canada dropped their target price on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Citigroup reduced their price target on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Robert W. Baird lifted their price target on shares of Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Barclays began coverage on shares of Abbott Laboratories in a research report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $118.32.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $106.33 on Monday. The firm has a market capitalization of $183.99 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.86 and a beta of 0.54. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $104.36 and its 200-day moving average price is $102.06. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $132.02.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting the consensus estimate of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The business had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period last year, the company earned $1.30 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is 94.03%.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.