Abbott Laboratories (NYSE:ABT) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,630 shares of the healthcare product maker’s stock after selling 282 shares during the period. Abbott Laboratories accounts for about 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 17th biggest holding. Ingalls & Snyder LLC’s holdings in Abbott Laboratories were worth $28,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Olistico Wealth LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $56,000. Kingswood Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 3.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 19,408 shares of the healthcare product maker’s stock valued at $2,017,000 after buying an additional 707 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Abbott Laboratories by 9.4% during the second quarter. Park Avenue Securities LLC now owns 68,145 shares of the healthcare product maker’s stock valued at $7,081,000 after buying an additional 5,858 shares during the last quarter. Fiduciary Alliance LLC raised its holdings in shares of Abbott Laboratories by 4.1% during the second quarter. Fiduciary Alliance LLC now owns 3,980 shares of the healthcare product maker’s stock valued at $411,000 after buying an additional 158 shares during the last quarter. Finally, Cullinan Associates Inc. raised its holdings in shares of Abbott Laboratories by 2.0% during the second quarter. Cullinan Associates Inc. now owns 51,494 shares of the healthcare product maker’s stock valued at $5,351,000 after buying an additional 1,000 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABT. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Up 0.1 %

Shares of Abbott Laboratories stock traded up $0.09 on Tuesday, hitting $116.90. 369,740 shares of the company traded hands, compared to its average volume of 5,645,984. The company has a 50-day moving average price of $115.87 and a 200 day moving average price of $110.43. 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 12-month low of $99.71 and a 12-month high of $121.64. The company has a market cap of $202.76 billion, a PE ratio of 35.50, a PEG ratio of 2.79 and a beta of 0.73.

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 13.99% 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. Sell-side analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

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.