Abbott Laboratories (NYSE:ABT) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 68.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,133 shares of the healthcare product maker’s stock after selling 2,450 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Abbott Laboratories were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ABT. BDF Gestion acquired a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $7,651,000. Dundas Partners LLP increased its stake in shares of Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after purchasing an additional 6,897 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares during the last quarter. MONECO Advisors LLC boosted its position in Abbott Laboratories by 110.1% during the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares during the period. Finally, Proactive Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $2,176,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. UBS Group upped their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Stock Up 0.8 %

Shares of NYSE:ABT opened at $115.90 on Friday. Abbott Laboratories has a 12 month low of $97.64 and a 12 month high of $121.64. The firm has a market cap of $201.02 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $115.53 and its two-hundred day moving average price is $109.49.

Abbott Laboratories (NYSE:ABT) last released 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company 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.