Abbott Laboratories (NYSE:ABT) Shares Sold by Dearborn Partners LLC

by · The Markets Daily

Dearborn Partners LLC cut its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 285,697 shares of the healthcare product maker’s stock after selling 5,272 shares during the quarter. Dearborn Partners LLC’s holdings in Abbott Laboratories were worth $32,572,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Insight Folios Inc raised its stake in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after buying an additional 87 shares during the period. Boltwood Capital Management lifted its holdings in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after buying an additional 89 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares in the last quarter. Silicon Valley Capital Partners grew its position in Abbott Laboratories by 8.7% during the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after buying an additional 89 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its holdings in shares of Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT stock opened at $115.05 on Friday. The business has a 50-day moving average of $115.45 and a 200 day moving average of $109.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $96.92 and a 1-year high of $121.64. The stock has a market capitalization of $199.55 billion, a PE ratio of 34.97, a P/E/G ratio of 2.72 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 1.91%. Abbott Laboratories’s payout ratio is presently 66.87%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research analyst reports. UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $130.07.

View Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Profile

(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.

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