Wellington Management Group LLP Grows Stock Holdings in Abbott Laboratories (NYSE:ABT)

Wellington Management Group LLP boosted its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,810,977 shares of the healthcare product maker’s stock after purchasing an additional 280,441 shares during the period. Wellington Management Group LLP’s holdings in Abbott Laboratories were worth $2,942,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Simplify Asset Management Inc. raised its holdings in Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after buying an additional 5,664 shares during the last quarter. Dundas Partners LLP increased its position in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after purchasing an additional 31,720 shares during the period. MONECO Advisors LLC grew its stake in shares of Abbott Laboratories by 110.1% in the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares during the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new position in Abbott Laboratories during the 3rd quarter valued at about $2,176,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.3 %

NYSE ABT opened at $115.59 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $200.49 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.73. The stock’s 50-day moving average price is $116.09 and its 200-day moving average price is $110.68.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s payout ratio is presently 66.87%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABT. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Profile

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.