Well Done LLC Sells 3,779 Shares of Abbott Laboratories (NYSE:ABT)

Well Done LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,909 shares of the healthcare product maker’s stock after selling 3,779 shares during the period. Abbott Laboratories accounts for approximately 0.9% of Well Done LLC’s holdings, making the stock its 22nd biggest holding. Well Done LLC’s holdings in Abbott Laboratories were worth $5,120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the last quarter. Capital International Investors raised its position in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Swedbank AB purchased a new stake in Abbott Laboratories in the 1st quarter worth about $341,777,000. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $264,876,000. Finally, Assenagon Asset Management S.A. raised its position in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after purchasing an additional 1,996,320 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Up 0.1 %

ABT stock traded up $0.15 during trading on Friday, hitting $118.04. 687,447 shares of the company’s stock traded hands, compared to its average volume of 5,702,158. The firm has a market capitalization of $205.35 billion, a P/E ratio of 36.73, a PEG ratio of 2.74 and a beta of 0.72. The business has a fifty day simple moving average of $113.76 and a two-hundred day simple moving average of $108.47. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1 year low of $91.64 and a 1 year 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 for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler raised their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Company 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.