Icon Wealth Advisors LLC Cuts Stake in Abbott Laboratories (NYSE:ABT)

Icon Wealth Advisors LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,085 shares of the healthcare product maker’s stock after selling 494 shares during the period. Icon Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $5,596,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the period. Fisher Asset Management LLC increased its stake in shares of Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after buying an additional 585,915 shares during the period. Ameriprise Financial Inc. raised its holdings in Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after acquiring an additional 1,596,835 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Abbott Laboratories by 8.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker’s stock worth $761,996,000 after acquiring an additional 524,683 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. UBS Group increased their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 0.8 %

Shares of ABT stock opened at $118.95 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $115.76 and its two-hundred day moving average is $110.25. The company has a market capitalization of $206.31 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during 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%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. Equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Abbott Laboratories Company 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.