Philadelphia Trust Co. trimmed its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,641 shares of the healthcare product maker’s stock after selling 11,103 shares during the period. Abbott Laboratories comprises approximately 1.1% of Philadelphia Trust Co.’s investment portfolio, making the stock its 25th biggest position. Philadelphia Trust Co.’s holdings in Abbott Laboratories were worth $16,074,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Elwood & Goetz Wealth Advisory Group LLC grew its position in shares of Abbott Laboratories by 3.1% in the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock valued at $318,000 after buying an additional 97 shares during the last quarter. Parkway Wealth Management Group LLC increased its stake in shares of Abbott Laboratories by 3.2% in the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock valued at $317,000 after buying an additional 98 shares during the period. Signature Equity Partners LLC raised its position in shares of Abbott Laboratories by 7.9% during the third quarter. Signature Equity Partners LLC now owns 1,363 shares of the healthcare product maker’s stock worth $135,000 after acquiring an additional 100 shares during the last quarter. St. Johns Investment Management Company LLC raised its position in shares of Abbott Laboratories by 1.0% during the second quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after acquiring an additional 101 shares during the last quarter. Finally, AA Financial Advisors LLC raised its position in shares of Abbott Laboratories by 1.7% during the third quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after acquiring an additional 101 shares during the last quarter. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Stock Performance
ABT stock opened at $110.58 on Wednesday. The stock has a 50-day moving average price of $103.99 and a 200-day moving average price of $101.74. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a market cap of $191.53 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.
Insider Transactions at Abbott Laboratories
In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on ABT. Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. Weiss Ratings raised shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 13th. Finally, Argus lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.32.
Get Our Latest Stock Analysis on ABT
Abbott Laboratories Profile
Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.
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