Pathway Financial Advisers LLC Acquires 1,382 Shares of Abbott Laboratories (NYSE:ABT)

Pathway Financial Advisers LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 99.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,765 shares of the healthcare product maker’s stock after purchasing an additional 1,382 shares during the period. Pathway Financial Advisers LLC’s holdings in Abbott Laboratories were worth $315,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arkadios Wealth Advisors increased its stake in Abbott Laboratories by 31.6% during the third quarter. Arkadios Wealth Advisors now owns 15,651 shares of the healthcare product maker’s stock valued at $1,784,000 after acquiring an additional 3,761 shares during the period. NorthCrest Asset Manangement LLC increased its stake in Abbott Laboratories by 0.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 64,291 shares of the healthcare product maker’s stock valued at $7,330,000 after acquiring an additional 472 shares during the period. Forsta AP Fonden increased its stake in Abbott Laboratories by 10.0% during the third quarter. Forsta AP Fonden now owns 422,100 shares of the healthcare product maker’s stock valued at $48,124,000 after acquiring an additional 38,500 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Abbott Laboratories by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,961 shares of the healthcare product maker’s stock valued at $19,990,000 after acquiring an additional 35,127 shares during the period. Finally, Osborne Partners Capital Management LLC increased its stake in Abbott Laboratories by 0.3% during the third quarter. Osborne Partners Capital Management LLC now owns 117,891 shares of the healthcare product maker’s stock valued at $13,441,000 after acquiring an additional 381 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 2.0 %

Shares of ABT opened at $114.22 on Friday. The company has a market capitalization of $198.70 billion, a P/E ratio of 35.58, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The business’s 50 day simple moving average is $114.63 and its 200-day simple moving average is $108.67.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping 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 return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

About Abbott Laboratories

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.