Abbott Laboratories (NYSE:ABT) Shares Sold by MPS Loria Financial Planners LLC

MPS Loria Financial Planners LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,508 shares of the healthcare product maker’s stock after selling 777 shares during the quarter. Abbott Laboratories comprises approximately 0.6% of MPS Loria Financial Planners LLC’s investment portfolio, making the stock its 15th largest position. MPS Loria Financial Planners LLC’s holdings in Abbott Laboratories were worth $1,996,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABT. BDF Gestion purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $7,651,000. Dundas Partners LLP grew its holdings in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the period. Duality Advisers LP purchased a new stake in Abbott Laboratories during the first quarter worth $5,634,000. Oak Harvest Investment Services boosted its position in Abbott Laboratories by 32.7% during the first quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock worth $8,371,000 after purchasing an additional 18,131 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Abbott Laboratories by 40.3% during the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after purchasing an additional 14,215 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction 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 owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 2.0 %

Shares of ABT opened at $116.99 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average price is $114.16 and its 200 day moving average price is $108.52. The firm has a market capitalization 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 12-month low of $91.64 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 13.65%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the business earned $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Piper Sandler increased 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, Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” 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, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

About Abbott Laboratories

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.