WealthPLAN Partners LLC Sells 19,015 Shares of Abbott Laboratories (NYSE:ABT)

WealthPLAN Partners LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 57.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,830 shares of the healthcare product maker’s stock after selling 19,015 shares during the period. WealthPLAN Partners LLC’s holdings in Abbott Laboratories were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ABT. Meeder Asset Management Inc. increased its stake in Abbott Laboratories by 16.5% during the 1st quarter. Meeder Asset Management Inc. now owns 3,099 shares of the healthcare product maker’s stock valued at $352,000 after purchasing an additional 439 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Abbott Laboratories by 14.8% in the first quarter. Bleakley Financial Group LLC now owns 48,771 shares of the healthcare product maker’s stock valued at $5,543,000 after purchasing an additional 6,302 shares during the period. William Blair Investment Management LLC boosted its position in Abbott Laboratories by 19.5% in the first quarter. William Blair Investment Management LLC now owns 114,662 shares of the healthcare product maker’s stock valued at $13,032,000 after buying an additional 18,711 shares during the last quarter. Entropy Technologies LP purchased a new position in Abbott Laboratories during the 1st quarter worth approximately $806,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Abbott Laboratories by 2.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 331,837 shares of the healthcare product maker’s stock valued at $37,716,000 after acquiring an additional 8,044 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

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 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 transaction, the chief executive officer now owns 220,059 shares in the company, 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 the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABT shares. UBS Group upped their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler lifted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Up 0.2 %

Shares of ABT opened at $116.80 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market cap of $202.58 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company’s 50-day moving average price is $115.39 and its 200 day moving average price is $109.28. Abbott Laboratories has a 12-month low of $94.50 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its 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 return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current 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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

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.