Mcdaniel Terry & Co. Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

Mcdaniel Terry & Co. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,168 shares of the healthcare product maker’s stock after selling 130 shares during the period. Mcdaniel Terry & Co.’s holdings in Abbott Laboratories were worth $2,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. boosted its position in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital International Investors boosted its position in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Swedbank AB purchased a new stake in Abbott Laboratories during the 1st quarter worth $341,777,000. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories during the 2nd quarter worth $264,876,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after buying an additional 1,996,320 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

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 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

NYSE ABT opened at $116.54 on Friday. The company’s fifty day moving average is $114.46 and its two-hundred day moving average is $108.62. The firm has a market capitalization of $202.74 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. 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 (NYSE:ABT) last released 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 during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Mizuho boosted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have given 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.