4,692 Abbott Laboratories $ABT Shares Acquired by Riverbridge Partners LLC

Riverbridge Partners LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 26.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,375 shares of the healthcare product maker’s stock after acquiring an additional 4,692 shares during the period. Riverbridge Partners LLC’s holdings in Abbott Laboratories were worth $2,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares in the last quarter. State Street Corp grew its holdings in shares of Abbott Laboratories by 1.7% during the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after purchasing an additional 1,350,766 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Abbott Laboratories during the second quarter worth $1,603,607,000. Deutsche Bank AG increased its stake in shares of Abbott Laboratories by 18.6% in the second quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after buying an additional 2,614,965 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Abbott Laboratories in the second quarter valued at $1,082,524,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Citigroup dropped their target price on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Finally, Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their target price for the stock from $119.00 to $127.00 in a research report on Friday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Trading Up 0.1%

ABT stock opened at $110.58 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a market cap of $191.53 billion, a P/E ratio of 41.26, a PEG ratio of 1.94 and a beta of 0.54. The business has a fifty day moving average of $103.99 and a 200-day moving average of $101.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.42. The business had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

About Abbott Laboratories

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. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.