Abbott Laboratories (NYSE:ABT) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,425 shares of the healthcare product maker’s stock after selling 387 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Abbott Laboratories were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABT. LaFleur & Godfrey LLC increased its holdings in shares of Abbott Laboratories by 35.0% in the 3rd quarter. LaFleur & Godfrey LLC now owns 66,751 shares of the healthcare product maker’s stock valued at $7,610,000 after acquiring an additional 17,318 shares during the last quarter. Leisure Capital Management boosted its holdings in Abbott Laboratories by 3.6% in the third quarter. Leisure Capital Management now owns 9,798 shares of the healthcare product maker’s stock valued at $1,117,000 after purchasing an additional 345 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Abbott Laboratories by 2.5% in the third quarter. Sumitomo Life Insurance Co. now owns 13,282 shares of the healthcare product maker’s stock valued at $1,514,000 after purchasing an additional 324 shares during the last quarter. Verum Partners LLC acquired a new stake in Abbott Laboratories during the third quarter worth approximately $223,000. Finally, Sunpointe LLC lifted its position in shares of Abbott Laboratories by 7.3% during the 3rd quarter. Sunpointe LLC now owns 4,350 shares of the healthcare product maker’s stock worth $496,000 after buying an additional 295 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.5 %

Shares of NYSE:ABT opened at $117.82 on Thursday. Abbott Laboratories has a fifty-two week low of $91.25 and a fifty-two week high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $113.60 and its 200-day simple moving average is $108.40. The company has a market cap of $204.96 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABT shares. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Abbott Laboratories Profile

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.