Abbott Laboratories (NYSE:ABT) Shares Sold by Telos Capital Management Inc.

Telos Capital Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,756 shares of the healthcare product maker’s stock after selling 174 shares during the period. Telos Capital Management Inc.’s holdings in Abbott Laboratories were worth $3,506,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Boltwood Capital Management boosted its holdings in Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Abbott Laboratories by 2.9% in the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares in the last quarter. Atwood & Palmer Inc. boosted its holdings in Abbott Laboratories by 6.5% in the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after purchasing an additional 90 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Abbott Laboratories by 2.3% in the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after purchasing an additional 91 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its holdings in Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Barclays increased their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $116.99 on Tuesday. The firm has a market capitalization of $203.52 billion, a PE ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The stock’s 50 day moving average is $114.16 and its two-hundred day moving average is $108.52. Abbott Laboratories has a twelve month low of $91.64 and a twelve month 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.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

About Abbott Laboratories

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.