CX Institutional Sells 428 Shares of Abbott Laboratories (NYSE:ABT)

CX Institutional cut its stake in Abbott Laboratories (NYSE:ABT) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,453 shares of the healthcare product maker’s stock after selling 428 shares during the quarter. CX Institutional’s holdings in Abbott Laboratories were worth $1,420,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABT. Signal Advisors Wealth LLC raised its position in shares of Abbott Laboratories by 38.8% in the first quarter. Signal Advisors Wealth LLC now owns 3,490 shares of the healthcare product maker’s stock valued at $397,000 after purchasing an additional 976 shares during the period. Banque Cantonale Vaudoise grew its stake in shares of Abbott Laboratories by 4.1% in the first quarter. Banque Cantonale Vaudoise now owns 95,077 shares of the healthcare product maker’s stock valued at $10,805,000 after acquiring an additional 3,760 shares in the last quarter. Cox Capital Mgt LLC grew its stake in shares of Abbott Laboratories by 0.3% in the first quarter. Cox Capital Mgt LLC now owns 40,817 shares of the healthcare product maker’s stock valued at $4,639,000 after acquiring an additional 139 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Abbott Laboratories by 9.4% in the first quarter. Wedmont Private Capital now owns 13,224 shares of the healthcare product maker’s stock valued at $1,487,000 after acquiring an additional 1,132 shares in the last quarter. Finally, KMG Fiduciary Partners LLC grew its stake in shares of Abbott Laboratories by 0.8% in the first quarter. KMG Fiduciary Partners LLC now owns 16,378 shares of the healthcare product maker’s stock valued at $1,862,000 after acquiring an additional 132 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 1.5 %

ABT stock opened at $117.82 on Thursday. The stock has a market capitalization of $204.96 billion, a P/E ratio of 36.70, a price-to-earnings-growth 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 has a 12 month low of $91.25 and a 12 month high of $121.64. The firm has a 50-day moving average price of $113.60 and a 200-day moving average price of $108.40.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ABT shares. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

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.