Interchange Capital Partners LLC Sells 523 Shares of Abbott Laboratories (NYSE:ABT)

Interchange Capital Partners LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,880 shares of the healthcare product maker’s stock after selling 523 shares during the quarter. Interchange Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,697,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares in the last quarter. Capital International Investors increased its stake in shares of 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 last quarter. Ameriprise Financial Inc. lifted its stake in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock valued at $1,103,997,000 after purchasing an additional 508,524 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after purchasing an additional 1,596,835 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Abbott Laboratories by 7.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker’s stock worth $721,984,000 after buying an additional 452,308 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 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 SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays lifted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. 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 report on Thursday, October 17th. Finally, UBS Group raised their price objective 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. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $5.73 during mid-day trading on Friday, reaching $119.10. 2,830,286 shares of the company were exchanged, compared to its average volume of 5,693,152. The company has a fifty day simple moving average of $114.82 and a 200-day simple moving average of $108.78. The firm has a market cap of $207.22 billion, a PE ratio of 36.12, a PEG ratio of 2.69 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 12 month low of $92.43 and a 12 month high of $121.64.

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 analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal 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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio is 66.87%.

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.