Mount Yale Investment Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 30.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,337 shares of the healthcare product maker's stock after selling 7,208 shares during the quarter. Mount Yale Investment Advisors LLC's holdings in Abbott Laboratories were worth $1,581,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Capital Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 1.1% during the 2nd quarter. Royal Capital Wealth Management LLC now owns 8,534 shares of the healthcare product maker's stock valued at $927,000 after purchasing an additional 90 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of Abbott Laboratories by 4.7% during the second quarter. Onyx Bridge Wealth Group LLC now owns 2,114 shares of the healthcare product maker's stock valued at $231,000 after acquiring an additional 95 shares in the last quarter. Echo Street Capital Management LLC raised its position in shares of Abbott Laboratories by 1.0% in the 2nd quarter. Echo Street Capital Management LLC now owns 9,291 shares of the healthcare product maker's stock valued at $1,009,000 after purchasing an additional 95 shares during the last quarter. O ROURKE & COMPANY Inc grew its position in Abbott Laboratories by 4.4% during the 2nd quarter. O ROURKE & COMPANY Inc now owns 2,297 shares of the healthcare product maker's stock worth $250,000 after purchasing an additional 96 shares during the last quarter. Finally, Bill Few Associates Inc. increased its stake in Abbott Laboratories by 0.3% during the 3rd quarter. Bill Few Associates Inc. now owns 30,749 shares of the healthcare product maker's stock valued at $2,975,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 72.93% of the company's stock.
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Insider Activity
In other Abbott Laboratories news, EVP John F. Ginascol sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total value of $1,235,520.00. Following the completion of the transaction, the executive vice president now owns 111,912 shares of the company's stock, valued at approximately $12,569,955.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on ABT shares. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company a "buy" rating in a report on Thursday. Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday. Royal Bank of Canada dropped their price objective on shares of Abbott Laboratories from $132.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, October 20th. Mizuho boosted their target price on shares of Abbott Laboratories from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on Abbott Laboratories from $117.00 to $133.00 and gave the company an "overweight" rating in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.63.
Abbott Laboratories Price Performance
Shares of NYSE ABT opened at $109.95 on Friday. The stock has a market capitalization of $191.71 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 5.01 and a beta of 0.69. Abbott Laboratories has a 52 week low of $93.25 and a 52 week high of $130.93. The firm has a 50-day simple moving average of $109.07 and a 200-day simple moving average of $105.86. The company has a quick ratio of 1.43, a current ratio of 1.86 and a debt-to-equity ratio of 0.43.
Abbott Laboratories (NYSE:ABT – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.24%. The company had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. Abbott Laboratories's quarterly revenue was down 12.0% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 4.35 earnings per share for the current fiscal year.
Abbott Laboratories Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, January 12th. This is a boost from Abbott Laboratories's previous quarterly dividend of $0.47. Abbott Laboratories's dividend payout ratio is currently 52.17%.
Abbott Laboratories Company Profile
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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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