Luts & Greenleigh Group Inc. Has $1.65 Million Stake in Abbott Laboratories (NYSE:ABT)

Luts & Greenleigh Group Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,439 shares of the healthcare product maker’s stock after buying an additional 222 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Luts & Greenleigh Group Inc.’s investment portfolio, making the stock its 11th largest holding. Luts & Greenleigh Group Inc.’s holdings in Abbott Laboratories were worth $1,646,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $31,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABT shares. Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday. Jefferies Financial Group restated a “hold” rating and set a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday, September 26th. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Royal Bank of Canada raised 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.54.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.21 during midday trading on Tuesday, reaching $116.04. The company had a trading volume of 6,535,562 shares, compared to its average volume of 5,722,229. The stock has a market cap of $201.87 billion, a P/E ratio of 36.15, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52-week low of $90.87 and a 52-week high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average price is $113.31 and its 200 day moving average price is $108.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.