Segment Wealth Management LLC Has $549,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Segment Wealth Management LLC cut its position in Abbott Laboratories (NYSE:ABT) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,818 shares of the healthcare product maker’s stock after selling 295 shares during the period. Segment Wealth Management LLC’s holdings in Abbott Laboratories were worth $549,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BDF Gestion bought a new position in Abbott Laboratories in the 2nd quarter valued at about $7,651,000. Dundas Partners LLP lifted its position in Abbott Laboratories by 2.1% in the 2nd 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 in the last quarter. Duality Advisers LP bought a new position in Abbott Laboratories in the 1st quarter valued at about $5,634,000. Oak Harvest Investment Services lifted its position in 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 valued at $8,371,000 after acquiring an additional 18,131 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Abbott Laboratories by 40.3% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after acquiring an additional 14,215 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Stock Up 0.7 %

Abbott Laboratories stock opened at $116.99 on Thursday. Abbott Laboratories has a 1-year low of $91.64 and a 1-year high of $121.64. The firm has a market capitalization of $203.52 billion, a price-to-earnings ratio of 36.45, a P/E/G 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. The firm has a 50 day simple moving average of $114.46 and a 200 day simple moving average of $108.62.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business earned $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company 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.