Foundations Investment Advisors LLC Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Foundations Investment Advisors LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 11.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,093 shares of the healthcare product maker’s stock after selling 1,131 shares during the period. Foundations Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the second quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the first quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the third quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the second quarter valued at $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research analyst reports. Morgan Stanley lifted their target price 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. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, UBS Group lifted their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the business’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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $116.99 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. The firm’s 50-day moving average is $114.46 and its two-hundred day moving average is $108.62. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a market capitalization of $203.52 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

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

Abbott Laboratories Announces Dividend

The business also recently declared 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 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 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.