Court Place Advisors LLC Sells 800 Shares of Abbott Laboratories (NYSE:ABT)

Court Place Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,783 shares of the healthcare product maker’s stock after selling 800 shares during the quarter. Court Place Advisors LLC’s holdings in Abbott Laboratories were worth $887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the first quarter worth $39,000. Wealthcare Advisory Partners LLC boosted its stake in Abbott Laboratories by 23.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,110 shares of the healthcare product maker’s stock worth $1,717,000 after purchasing an additional 2,870 shares during the period. Thrive Wealth Management LLC grew its holdings in Abbott Laboratories by 9.1% during the 1st quarter. Thrive Wealth Management LLC now owns 3,487 shares of the healthcare product maker’s stock valued at $396,000 after buying an additional 291 shares in the last quarter. Norway Savings Bank increased its position in shares of Abbott Laboratories by 0.9% during the first quarter. Norway Savings Bank now owns 31,873 shares of the healthcare product maker’s stock valued at $3,623,000 after buying an additional 271 shares during the period. Finally, Astoria Portfolio Advisors LLC. boosted its position in shares of Abbott Laboratories by 14.4% in the first quarter. Astoria Portfolio Advisors LLC. now owns 4,072 shares of the healthcare product maker’s stock valued at $443,000 after acquiring an additional 514 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.3 %

NYSE ABT traded down $1.51 during trading hours on Friday, reaching $115.03. 581,602 shares of the company’s stock traded hands, compared to its average volume of 5,698,312. The firm has a market cap of $200.11 billion, a PE ratio of 36.31, a PEG ratio of 2.74 and a beta of 0.72. 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 has a 52-week low of $91.64 and a 52-week high of $121.64. The firm has a 50-day simple moving average of $114.46 and a 200 day simple moving average of $108.62.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABT. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Royal Bank of Canada lifted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI upped their price objective 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. Four 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

About Abbott Laboratories

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.