Mediolanum International Funds Ltd Sells 25,977 Shares of Abbott Laboratories (NYSE:ABT)

Mediolanum International Funds Ltd lowered its position in Abbott Laboratories (NYSE:ABT) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 179,802 shares of the healthcare product maker’s stock after selling 25,977 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Abbott Laboratories were worth $20,182,000 at the end of the most recent quarter.

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

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $1.28 during mid-day trading on Friday, hitting $115.26. The stock had a trading volume of 912,690 shares, compared to its average volume of 5,699,912. The firm’s 50 day moving average is $114.46 and its 200 day moving average is $108.62. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The firm has a market capitalization of $200.51 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several analyst reports. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler boosted their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $129.67.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.