Calamos Advisors LLC Buys 5,033 Shares of Abbott Laboratories $ABT

Calamos Advisors LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,101 shares of the healthcare product maker’s stock after acquiring an additional 5,033 shares during the quarter. Calamos Advisors LLC’s holdings in Abbott Laboratories were worth $24,520,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Liberty Capital Management Inc. raised its position in shares of Abbott Laboratories by 2.3% during the third quarter. Liberty Capital Management Inc. now owns 35,414 shares of the healthcare product maker’s stock worth $3,500,000 after purchasing an additional 812 shares during the period. Alta Advisers Ltd grew its position in shares of Abbott Laboratories by 83.2% in the 3rd quarter. Alta Advisers Ltd now owns 12,493 shares of the healthcare product maker’s stock valued at $1,235,000 after purchasing an additional 5,673 shares during the period. Kraematon Investment Advisors Inc. grew its position in shares of Abbott Laboratories by 17.3% in the 3rd quarter. Kraematon Investment Advisors Inc. now owns 5,776 shares of the healthcare product maker’s stock valued at $571,000 after purchasing an additional 853 shares during the period. Kestra Advisory Services LLC increased its stake in Abbott Laboratories by 14.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 301,813 shares of the healthcare product maker’s stock worth $29,828,000 after purchasing an additional 39,095 shares in the last quarter. Finally, Claro Advisors Inc. increased its stake in Abbott Laboratories by 49.4% during the 3rd quarter. Claro Advisors Inc. now owns 5,332 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 1,764 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Citigroup lowered their price objective on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Royal Bank Of Canada dropped their price objective on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Thursday, August 13th. Finally, TD Cowen reduced their target price on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.32.

Abbott Laboratories Stock Down 3.2%

NYSE ABT traded down $3.58 during trading on Friday, hitting $110.02. The stock had a trading volume of 8,345,115 shares, compared to its average volume of 9,814,218. The company has a market capitalization of $190.38 billion, a PE ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54. The company’s 50-day moving average price is $104.04 and its two-hundred day moving average price is $101.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. 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 quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.42. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories’s dividend payout ratio is 94.03%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares in the company, valued at $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.