United Services Automobile Association Has $4.70 Million Stock Position in Abbott Laboratories (NYSE:ABT)

United Services Automobile Association cut its stake in Abbott Laboratories (NYSE:ABT) by 43.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,188 shares of the healthcare product maker’s stock after selling 31,558 shares during the period. United Services Automobile Association’s holdings in Abbott Laboratories were worth $4,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Simplify Asset Management Inc. lifted its holdings in Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after buying an additional 5,664 shares during the period. Dundas Partners LLP boosted its holdings in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after acquiring an additional 31,720 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares in the last quarter. Finally, Proactive Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $2,176,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI upped their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Stock Down 0.0 %

Shares of Abbott Laboratories stock opened at $115.57 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $116.09 and its 200 day moving average is $110.68. The company has a market cap of $200.45 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. Research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.