Abbott Laboratories (NYSE:ABT) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services decreased its holdings in Abbott Laboratories (NYSE:ABT) by 43.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,440 shares of the healthcare product maker’s stock after selling 35,181 shares during the quarter. Oak Harvest Investment Services’ holdings in Abbott Laboratories were worth $5,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kovack Advisors Inc. raised its position in Abbott Laboratories by 23.0% during the 1st quarter. Kovack Advisors Inc. now owns 8,849 shares of the healthcare product maker’s stock worth $1,006,000 after buying an additional 1,656 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Abbott Laboratories by 2.2% in the first quarter. Cornerstone Wealth Management LLC now owns 11,923 shares of the healthcare product maker’s stock valued at $1,355,000 after buying an additional 253 shares in the last quarter. FORVIS Wealth Advisors LLC raised its holdings in Abbott Laboratories by 0.8% during the first quarter. FORVIS Wealth Advisors LLC now owns 13,451 shares of the healthcare product maker’s stock worth $1,529,000 after purchasing an additional 111 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Abbott Laboratories by 11.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 39,110 shares of the healthcare product maker’s stock valued at $4,445,000 after buying an additional 3,892 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in Abbott Laboratories by 10.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 20,692 shares of the healthcare product maker’s stock valued at $2,351,000 after acquiring an additional 1,995 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada increased their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their price objective 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $114.45 on Thursday. The stock has a fifty day moving average price of $114.79 and a two-hundred day moving average price of $108.74. The firm has a market cap of $199.13 billion, a P/E ratio of 34.79, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1 year low of $92.43 and a 1 year high of $121.64. 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 quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. Research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.92%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

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.