Abbott Laboratories (NYSE:ABT) Shares Sold by Inscription Capital LLC

Inscription Capital LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,357 shares of the healthcare product maker’s stock after selling 251 shares during the period. Inscription Capital LLC’s holdings in Abbott Laboratories were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. BDF Gestion acquired a new position in Abbott Laboratories during the 2nd quarter worth approximately $7,651,000. Dundas Partners LLP lifted its position in shares of Abbott Laboratories by 2.1% during the second 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 in the last quarter. Duality Advisers LP purchased a new position in shares of Abbott Laboratories in the first quarter valued at $5,634,000. Oak Harvest Investment Services grew its holdings in Abbott Laboratories by 32.7% during the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after purchasing an additional 18,131 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after buying an additional 14,215 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada lifted 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. Four research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

ABT stock opened at $114.07 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market cap of $198.44 billion, a PE ratio of 35.54, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The firm has a 50 day simple moving average of $114.68 and a 200 day simple moving average of $108.67.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (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 business 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 company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.