Abbott Laboratories (NYSE:ABT) Stock Position Decreased by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 483,269 shares of the healthcare product maker’s stock after selling 3,221 shares during the period. Abbott Laboratories accounts for approximately 1.6% of Prio Wealth Limited Partnership’s holdings, making the stock its 14th biggest position. Prio Wealth Limited Partnership’s holdings in Abbott Laboratories were worth $55,098,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $32,000. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 2.1 %

Shares of ABT stock traded down $2.55 during trading hours on Monday, reaching $116.84. 3,009,989 shares of the stock traded hands, compared to its average volume of 5,718,681. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The business has a fifty day moving average price of $113.97 and a 200 day moving average price of $108.48. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $203.26 billion, a PE ratio of 36.55, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price target 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. Finally, Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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 that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.