Global Trust Asset Management LLC Sells 156 Shares of Abbott Laboratories (NYSE:ABT)

Global Trust Asset Management LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 971 shares of the healthcare product maker’s stock after selling 156 shares during the quarter. Global Trust Asset Management LLC’s holdings in Abbott Laboratories were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the first quarter worth $39,000. OneAscent Financial Services LLC increased its position in shares of Abbott Laboratories by 10.0% during the 1st quarter. OneAscent Financial Services LLC now owns 4,398 shares of the healthcare product maker’s stock worth $500,000 after purchasing an additional 400 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in Abbott Laboratories by 0.9% during the 1st quarter. Griffin Asset Management Inc. now owns 64,948 shares of the healthcare product maker’s stock valued at $7,382,000 after purchasing an additional 553 shares during the last quarter. WoodTrust Financial Corp grew its stake in Abbott Laboratories by 3.4% during the first quarter. WoodTrust Financial Corp now owns 5,691 shares of the healthcare product maker’s stock worth $647,000 after buying an additional 187 shares during the last quarter. Finally, Vicus Capital increased its holdings in shares of Abbott Laboratories by 19.5% during the first quarter. Vicus Capital now owns 5,137 shares of the healthcare product maker’s stock worth $584,000 after buying an additional 837 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 2.0 %

Shares of Abbott Laboratories stock opened at $114.22 on Friday. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The business has a fifty day simple moving average of $114.57 and a 200 day simple moving average of $108.67. 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 stock has a market cap of $198.70 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABT shares. Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus 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.