Abbott Laboratories (NYSE:ABT) Shares Sold by GFG Capital LLC

GFG Capital LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,647 shares of the healthcare product maker’s stock after selling 1,372 shares during the period. GFG Capital LLC’s holdings in Abbott Laboratories were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $32,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent analyst reports. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $116.99 on Tuesday. The stock’s fifty day simple moving average is $114.16 and its 200 day simple moving average is $108.52. 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 firm has a market cap of $203.52 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for 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 13.65%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 sale, 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 through this link. 1.10% of the stock is currently owned by corporate 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.