Abbott Laboratories (NYSE:ABT) Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 48,870 shares of the healthcare product maker’s stock after selling 685 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Abbott Laboratories were worth $5,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABT shares. Citigroup boosted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Jefferies Financial Group restated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a report on Thursday, September 26th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Evercore ISI upped their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $113.64 on Thursday. 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 fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a fifty day moving average price of $112.10 and a two-hundred day moving average price of $108.19. The company has a market cap of $197.69 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.