Tanager Wealth Management LLP Has $261,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Tanager Wealth Management LLP lessened its holdings in Abbott Laboratories (NYSE:ABT) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,292 shares of the healthcare product maker’s stock after selling 219 shares during the period. Tanager Wealth Management LLP’s holdings in Abbott Laboratories were worth $261,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 1st quarter worth about $39,000. Revolve Wealth Partners LLC boosted its position in Abbott Laboratories by 6.3% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,956 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 116 shares during the period. Wealthcare Advisory Partners LLC increased its position in Abbott Laboratories by 23.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,110 shares of the healthcare product maker’s stock valued at $1,717,000 after acquiring an additional 2,870 shares during the period. Thrive Wealth Management LLC raised its stake in shares of Abbott Laboratories by 9.1% during the first quarter. Thrive Wealth Management LLC now owns 3,487 shares of the healthcare product maker’s stock valued at $396,000 after acquiring an additional 291 shares during the last quarter. Finally, Investment Partners LTD. lifted its holdings in shares of Abbott Laboratories by 3.6% during the first quarter. Investment Partners LTD. now owns 8,181 shares of the healthcare product maker’s stock worth $930,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABT. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $116.99 on Thursday. The business has a 50-day simple moving average of $114.46 and a 200 day simple moving average of $108.62. The firm has a market capitalization of $203.52 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business earned $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

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.