Campbell Wealth Management Has $203,000 Holdings in Abbott Laboratories (NYSE:ABT)

Campbell Wealth Management cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 67.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,784 shares of the healthcare product maker’s stock after selling 3,667 shares during the quarter. Campbell Wealth Management’s holdings in Abbott Laboratories were worth $203,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the second quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the second quarter worth $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories in the second quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $118.59 on Friday. The firm’s 50-day moving average price is $114.93 and its 200-day moving average price is $108.84. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64. The firm has a market capitalization of $206.33 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.69 and a beta of 0.72. 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 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABT. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price objective 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. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $129.67.

Insider Buying and Selling

In related 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 value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.