Hubbell Strickland Wealth Management LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Hubbell Strickland Wealth Management LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,777 shares of the healthcare product maker’s stock after buying an additional 209 shares during the quarter. Abbott Laboratories makes up 0.7% of Hubbell Strickland Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Hubbell Strickland Wealth Management LLC’s holdings in Abbott Laboratories were worth $955,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABT. Ridgewood Investments LLC increased its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. Ridgewood Investments LLC now owns 3,248 shares of the healthcare product maker’s stock worth $353,000 after purchasing an additional 98 shares during the period. Abbot Financial Management Inc. increased its holdings in Abbott Laboratories by 0.8% during the 2nd quarter. Abbot Financial Management Inc. now owns 12,986 shares of the healthcare product maker’s stock worth $1,187,000 after purchasing an additional 100 shares during the period. Providence Wealth Advisors LLC increased its holdings in Abbott Laboratories by 3.4% during the 2nd quarter. Providence Wealth Advisors LLC now owns 3,020 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 100 shares during the period. Private Asset Management Inc. increased its holdings in Abbott Laboratories by 1.1% during the 3rd quarter. Private Asset Management Inc. now owns 8,996 shares of the healthcare product maker’s stock worth $979,000 after purchasing an additional 100 shares during the period. Finally, Acropolis Investment Management LLC increased its holdings in Abbott Laboratories by 2.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 3,734 shares of the healthcare product maker’s stock worth $406,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Several equities research analysts have weighed in on the company. SVB Leerink upped their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday. Argus upped their price target on Abbott Laboratories from $110.00 to $125.00 in a report on Thursday, July 23rd. Morgan Stanley upped their price objective on Abbott Laboratories from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James upped their price objective on Abbott Laboratories from $102.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Goldman Sachs Group set a $94.00 price objective on Abbott Laboratories and gave the stock a “sell” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $115.18.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now directly owns 144,912 shares of the company’s stock, valued at approximately $16,209,856.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randel William Woodgrift sold 2,500 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $105.28, for a total value of $263,200.00. Following the sale, the senior vice president now directly owns 46,267 shares of the company’s stock, valued at $4,870,989.76. The disclosure for this sale can be found here. Insiders have sold a total of 84,919 shares of company stock valued at $9,283,128 over the last ninety days. 1.70% of the stock is owned by insiders.

Shares of NYSE ABT traded up $0.06 during trading hours on Friday, reaching $109.54. The stock had a trading volume of 21,518 shares, compared to its average volume of 7,132,733. The firm has a market cap of $193.84 billion, a price-to-earnings ratio of 63.28, a PEG ratio of 2.98 and a beta of 0.92. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $114.19. The firm has a 50-day moving average of $106.42 and a 200-day moving average of $97.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 3.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.31%. Abbott Laboratories’s payout ratio is 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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