Abbott Laboratories (NYSE:ABT) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,786 shares of the healthcare product maker’s stock after selling 733 shares during the quarter. Naviter Wealth LLC’s holdings in Abbott Laboratories were worth $2,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BDF Gestion purchased a new position in shares of Abbott Laboratories during the second quarter worth about $7,651,000. Dundas Partners LLP increased its holdings 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 purchasing an additional 6,897 shares during the period. Duality Advisers LP acquired a new stake in shares of Abbott Laboratories during the first quarter worth $5,634,000. Oak Harvest Investment Services grew its position in Abbott Laboratories by 32.7% in the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after buying an additional 18,131 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Abbott Laboratories by 40.3% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after buying an additional 14,215 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

Shares of Abbott Laboratories stock traded down $0.20 during trading hours on Thursday, hitting $117.62. 194,003 shares of the company’s stock traded hands, compared to its average volume of 5,702,921. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The stock has a 50 day simple moving average of $113.60 and a 200-day simple moving average of $108.40. The company has a market cap of $204.62 billion, a PE ratio of 36.66, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling

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 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 $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ABT shares. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Mizuho raised their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.71.

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.