JBR Co Financial Management Inc Sells 125 Shares of Abbott Laboratories (NYSE:ABT)

JBR Co Financial Management Inc lowered its holdings in Abbott Laboratories (NYSE:ABT) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,375 shares of the healthcare product maker’s stock after selling 125 shares during the period. JBR Co Financial Management Inc’s holdings in Abbott Laboratories were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ayrshire Capital Management LLC raised its holdings in Abbott Laboratories by 1.2% during the third quarter. Ayrshire Capital Management LLC now owns 45,066 shares of the healthcare product maker’s stock worth $5,138,000 after acquiring an additional 542 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Abbott Laboratories by 13.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 16,975 shares of the healthcare product maker’s stock worth $1,935,000 after purchasing an additional 1,985 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in shares of Abbott Laboratories by 18.7% in the 3rd quarter. Retirement Planning Group LLC now owns 3,137 shares of the healthcare product maker’s stock valued at $358,000 after buying an additional 494 shares during the last quarter. Annex Advisory Services LLC grew its stake in shares of Abbott Laboratories by 4.9% in the third quarter. Annex Advisory Services LLC now owns 69,851 shares of the healthcare product maker’s stock valued at $7,964,000 after buying an additional 3,268 shares in the last quarter. Finally, Brown Miller Wealth Management LLC increased its holdings in Abbott Laboratories by 1.4% during the third quarter. Brown Miller Wealth Management LLC now owns 42,653 shares of the healthcare product maker’s stock worth $4,862,000 after buying an additional 574 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABT shares. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $0.50 during midday trading on Friday, hitting $116.12. The company’s stock had a trading volume of 3,471,291 shares, compared to its average volume of 5,728,511. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company has a market cap of $202.01 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a 50-day moving average price of $113.13 and a two-hundred day moving average price of $108.33.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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.