Wrapmanager Inc. trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 19.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,424 shares of the healthcare product maker's stock after selling 4,414 shares during the quarter. Wrapmanager Inc.'s holdings in Abbott Laboratories were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Abbott Laboratories by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker's stock worth $5,936,000 after buying an additional 16,300 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Abbott Laboratories by 50.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker's stock worth $407,000 after buying an additional 1,200 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Abbott Laboratories by 82.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 17,585 shares of the healthcare product maker's stock worth $1,999,000 after buying an additional 7,936 shares during the last quarter. MQS Management LLC bought a new position in shares of Abbott Laboratories in the first quarter worth $743,000. Finally, Evermay Wealth Management LLC grew its stake in shares of Abbott Laboratories by 3.4% in the first quarter. Evermay Wealth Management LLC now owns 3,548 shares of the healthcare product maker's stock worth $403,000 after purchasing an additional 117 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.
In other news, CEO Robert B. Ford sold 141,679 shares of the 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 transaction, the chief executive officer now owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on the company. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Oppenheimer started 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. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, Mizuho upped their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.07.
Get Our Latest Analysis on Abbott Laboratories
NYSE:ABT opened at $117.36 on Tuesday. The firm has a market capitalization of $203.56 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 2.73 and a beta of 0.72. Abbott Laboratories has a 1-year low of $98.95 and a 1-year high of $121.64. 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 business's fifty day moving average price is $115.55 and its 200 day moving average price is $109.62.
Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm posted $1.14 EPS. The business's 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 fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is 66.87%.
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.
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