King Luther Capital Management Corp decreased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,672 shares of the healthcare product maker’s stock after selling 49,507 shares during the quarter. King Luther Capital Management Corp’s holdings in Abbott Laboratories were worth $105,419,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Elwood & Goetz Wealth Advisory Group LLC raised its stake in Abbott Laboratories by 3.1% in the third 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 grew its stake in shares of Abbott Laboratories by 3.2% during the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after acquiring an additional 98 shares during the last quarter. Signature Equity Partners LLC increased its holdings 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 valued at $135,000 after acquiring an additional 100 shares in the last quarter. St. Johns Investment Management Company LLC increased its holdings 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 valued at $895,000 after acquiring an additional 101 shares in the last quarter. Finally, AA Financial Advisors LLC raised its position in shares of Abbott Laboratories by 1.7% in the 3rd quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock valued at $611,000 after purchasing an additional 101 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories Trading Down 1.0%
Shares of NYSE:ABT opened at $109.38 on Thursday. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The stock has a market cap of $189.43 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.94 and a beta of 0.54. The company has a quick ratio of 1.00, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $104.00 and a 200-day moving average price of $101.74.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting analysts’ consensus estimates of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Equities analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.
Abbott Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.
Insider Buying and Selling
In other news, EVP Mary Moreland sold 3,500 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total value of $406,000.00. Following the sale, the executive vice president directly owned 100,791 shares of the company’s stock, valued at $11,691,756. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. TD Cowen lowered their target price on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Citigroup cut their price target on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 13th. Royal Bank Of Canada lowered their price objective on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Finally, Wall Street Zen raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.32.
Get Our Latest Stock Report on ABT
About Abbott Laboratories
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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