Vicus Capital Trims Stock Position in Abbott Laboratories (NYSE:ABT)

Vicus Capital decreased its position in Abbott Laboratories (NYSE:ABT) by 16.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,019 shares of the healthcare product maker’s stock after selling 1,006 shares during the period. Vicus Capital’s holdings in Abbott Laboratories were worth $572,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Graybill Wealth Management LTD. grew its position in shares of Abbott Laboratories by 2.8% during the 3rd quarter. Graybill Wealth Management LTD. now owns 49,659 shares of the healthcare product maker’s stock worth $5,662,000 after buying an additional 1,371 shares in the last quarter. Home Federal Bank of Tennessee increased its holdings in shares of Abbott Laboratories by 3.0% in the 3rd quarter. Home Federal Bank of Tennessee now owns 20,294 shares of the healthcare product maker’s stock valued at $2,314,000 after acquiring an additional 600 shares during the period. Oakworth Capital Inc. raised its position in shares of Abbott Laboratories by 11.2% in the 3rd quarter. Oakworth Capital Inc. now owns 9,359 shares of the healthcare product maker’s stock worth $1,067,000 after acquiring an additional 942 shares in the last quarter. Maple Capital Management Inc. lifted its stake in shares of Abbott Laboratories by 0.3% during the 3rd quarter. Maple Capital Management Inc. now owns 169,736 shares of the healthcare product maker’s stock worth $19,352,000 after purchasing an additional 447 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV bought a new stake in Abbott Laboratories during the third quarter valued at about $206,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $0.85 during midday trading on Tuesday, hitting $116.14. 742,160 shares of the company were exchanged, compared to its average volume of 5,720,233. The firm has a market capitalization of $202.04 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. The business has a fifty day simple moving average of $114.16 and a two-hundred day simple moving average of $108.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

Several analysts have commented on ABT shares. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. 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 report on Tuesday, October 8th. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

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.