Signature Estate & Investment Advisors LLC Sells 183 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Signature Estate & Investment Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT – Free Report) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,073 shares of the healthcare product maker’s stock after selling 183 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Abbott Laboratories were worth $806,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT opened at $115.90 on Friday. The stock’s 50-day simple moving average is $115.53 and its 200 day simple moving average is $109.49. The stock has a market capitalization of $201.02 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $97.64 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. Research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

Analysts Set New Price Targets

ABT has been the topic of several research analyst reports. UBS Group raised their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Oppenheimer initiated coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. 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 analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.07.

Read Our Latest Stock Report on Abbott Laboratories

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.

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