Measured Wealth Private Client Group LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 38.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,815 shares of the healthcare product maker’s stock after selling 1,775 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Abbott Laboratories were worth $236,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Welch & Forbes LLC lifted its stake in Abbott Laboratories by 0.3% during the first quarter. Welch & Forbes LLC now owns 634,537 shares of the healthcare product maker’s stock worth $50,725,000 after purchasing an additional 2,209 shares during the last quarter. Dakota Wealth Management bought a new stake in Abbott Laboratories during the first quarter worth $282,000. Hemenway Trust Co LLC lifted its stake in Abbott Laboratories by 7.5% during the first quarter. Hemenway Trust Co LLC now owns 290,562 shares of the healthcare product maker’s stock worth $23,228,000 after purchasing an additional 20,286 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Abbott Laboratories by 41.7% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,775 shares of the healthcare product maker’s stock worth $142,000 after purchasing an additional 522 shares during the last quarter. Finally, Buffington Mohr McNeal lifted its stake in Abbott Laboratories by 0.4% during the first quarter. Buffington Mohr McNeal now owns 84,538 shares of the healthcare product maker’s stock worth $6,758,000 after purchasing an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.
ABT has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Cowen upped their target price on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.74.
In related news, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the sale, the senior vice president now directly owns 97,755 shares in the company, valued at $8,322,860.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randel William Woodgrift sold 65,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total value of $5,720,650.00. Following the completion of the sale, the insider now owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The disclosure for this sale can be found here. Insiders sold a total of 181,497 shares of company stock valued at $15,701,810 over the last quarter. 0.70% of the stock is owned by corporate insiders.
Shares of ABT opened at $79.63 on Friday. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76. The stock has a market capitalization of $140.51 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The stock has a fifty day moving average of $83.11 and a 200-day moving average of $81.68.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period in the prior year, the company earned $0.73 EPS. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s payout ratio is 44.44%.
Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded 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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