Abbott Laboratories (NYSE:ABT) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

30 Oct 2024, 15:08 by Michael Walen · The Markets Daily

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Abbott Laboratories (NYSE:ABT – Free Report) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,729,778 shares of the healthcare product maker’s stock after selling 13,170 shares during the period. Abbott Laboratories comprises 1.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 17th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.10% of Abbott Laboratories worth $201,589,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Abbott Laboratories during the third quarter worth approximately $37,000. Pathway Financial Advisers LLC increased its position in shares of Abbott Laboratories by 99.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,765 shares of the healthcare product maker’s stock worth $315,000 after acquiring an additional 1,382 shares in the last quarter. Mutual Advisors LLC increased its position in shares of Abbott Laboratories by 1.8% in the third quarter. Mutual Advisors LLC now owns 22,231 shares of the healthcare product maker’s stock worth $2,591,000 after acquiring an additional 386 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Abbott Laboratories by 13.6% in the third quarter. Childress Capital Advisors LLC now owns 5,231 shares of the healthcare product maker’s stock valued at $596,000 after purchasing an additional 625 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 13.8% in the third quarter. Fidelis Capital Partners LLC now owns 18,637 shares of the healthcare product maker’s stock valued at $2,181,000 after purchasing an additional 2,254 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.3 %

Shares of Abbott Laboratories stock traded down $0.38 on Wednesday, hitting $113.02. The company had a trading volume of 271,717 shares, compared to its average volume of 5,685,136. The stock has a 50-day moving average of $114.73 and a 200-day moving average of $108.70. The firm has a market capitalization of $196.61 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. Research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Raymond James restated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Piper Sandler raised their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Get Our Latest Report on ABT

About Abbott Laboratories

(Free Report)

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.