Cassaday & Co Wealth Management LLC Has $4 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Cassaday & Co Wealth Management LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,105 shares of the healthcare product maker’s stock after selling 290 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. BDF Gestion acquired a new position in Abbott Laboratories in the second quarter worth approximately $7,651,000. Dundas Partners LLP grew its stake in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after buying an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after acquiring an additional 31,720 shares during the period. Simplify Asset Management Inc. grew its holdings in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after buying an additional 5,664 shares during the last quarter. Finally, MONECO Advisors LLC boosted its position in shares of Abbott Laboratories by 110.1% in the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after acquiring an additional 16,325 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.8 %

ABT opened at $115.90 on Monday. The firm has a market cap of $201.02 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s 50-day simple moving average is $115.53 and its 200-day simple moving average is $109.54. Abbott Laboratories has a twelve month low of $97.64 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Piper Sandler upped their price target on 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 lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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.