Abbott Laboratories (NYSE:ABT) Shares Sold by Heritage Financial Services LLC

Heritage Financial Services LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,528 shares of the healthcare product maker’s stock after selling 145 shares during the quarter. Heritage Financial Services LLC’s holdings in Abbott Laboratories were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. BDF Gestion bought a new position in Abbott Laboratories during the second quarter valued at 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 buying an additional 6,897 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $5,634,000. Oak Harvest Investment Services grew its holdings in shares of 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 worth $8,371,000 after acquiring an additional 18,131 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of 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 purchasing an additional 14,215 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler lifted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.0 %

Shares of ABT stock opened at $116.55 on Friday. The stock’s 50 day simple moving average is $114.46 and its 200 day simple moving average is $108.62. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a market capitalization of $202.75 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 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.