Mayflower Financial Advisors LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Mayflower Financial Advisors LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 17,253 shares of the healthcare product maker’s stock after selling 199 shares during the period. Mayflower Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,967,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter valued at about $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABT. Royal Bank of Canada boosted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup raised their price target 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. Raymond James reissued a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” 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 company has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 value of $16,492,852.39. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 1.1 %

ABT stock opened at $116.59 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64. The company’s 50-day simple moving average is $115.32 and its 200-day simple moving average is $109.19. The firm has a market cap of $202.22 billion, a P/E ratio of 35.44, a PEG ratio of 2.75 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.67 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. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Abbott Laboratories 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.