Hennion & Walsh Asset Management Inc. cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,628 shares of the healthcare product maker’s stock after selling 1,220 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Abbott Laboratories were worth $3,150,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ABT. BDF Gestion acquired a new stake in Abbott Laboratories in the 2nd quarter worth $7,651,000. Dundas Partners LLP increased its stake in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the period. Duality Advisers LP acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $5,634,000. Oak Harvest Investment Services lifted its position in shares of Abbott Laboratories by 32.7% in the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock worth $8,371,000 after acquiring an additional 18,131 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Abbott Laboratories by 40.3% during the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after purchasing an additional 14,215 shares during the period. 75.18% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Report on Abbott Laboratories
Abbott Laboratories Stock Down 0.4 %
Shares of NYSE ABT opened at $116.54 on Friday. 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 company has a market cap of $202.74 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth 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’s 50-day simple moving average is $114.46 and its 200 day simple moving average is $108.62.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. 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 prior year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.
Abbott Laboratories Announces Dividend
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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.
Featured Articles
- Five stocks we like better than Abbott Laboratories
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Airline Stocks – Top Airline Stocks to Buy Now
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- Stock Market Upgrades: What Are They?
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.