Abbott Laboratories (NYSE:ABT) Holdings Cut by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,794 shares of the healthcare product maker’s stock after selling 886 shares during the quarter. Abbott Laboratories comprises 0.8% of Cravens & Co Advisors LLC’s portfolio, making the stock its 27th largest position. Cravens & Co Advisors LLC’s holdings in Abbott Laboratories were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $2,506,000. Tidal Investments LLC increased its position in shares of Abbott Laboratories by 14.9% during the 1st quarter. Tidal Investments LLC now owns 81,143 shares of the healthcare product maker’s stock valued at $9,221,000 after purchasing an additional 10,541 shares during the period. Jaffetilchin Investment Partners LLC lifted its holdings in shares of Abbott Laboratories by 7.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,170 shares of the healthcare product maker’s stock valued at $247,000 after buying an additional 153 shares during the period. Garner Asset Management Corp grew its holdings in Abbott Laboratories by 8.7% during the first quarter. Garner Asset Management Corp now owns 2,240 shares of the healthcare product maker’s stock worth $255,000 after acquiring an additional 180 shares during the period. Finally, iA Global Asset Management Inc. boosted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. iA Global Asset Management Inc. now owns 73,310 shares of the healthcare product maker’s stock valued at $8,332,000 after purchasing an additional 330 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Citigroup increased their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. 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 objective for the company. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $117.95 on Wednesday. The firm has a market capitalization of $204.58 billion, a PE ratio of 35.85, a PEG ratio of 2.78 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The firm’s fifty day simple moving average is $115.59 and its 200 day simple moving average is $110.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

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.