Abbott Laboratories (NYSE:ABT) Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 21.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 898 shares of the healthcare product maker’s stock after selling 252 shares during the period. Bogart Wealth LLC’s holdings in Abbott Laboratories were worth $102,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABT. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth about $39,000. Wealthcare Advisory Partners LLC grew its position in Abbott Laboratories by 23.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,110 shares of the healthcare product maker’s stock worth $1,717,000 after purchasing an additional 2,870 shares in the last quarter. Thrive Wealth Management LLC raised its stake in Abbott Laboratories by 9.1% during the 1st quarter. Thrive Wealth Management LLC now owns 3,487 shares of the healthcare product maker’s stock valued at $396,000 after purchasing an additional 291 shares during the period. Norway Savings Bank boosted its position in shares of Abbott Laboratories by 0.9% in the first quarter. Norway Savings Bank now owns 31,873 shares of the healthcare product maker’s stock worth $3,623,000 after buying an additional 271 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its holdings in shares of Abbott Laboratories by 14.4% during the first quarter. Astoria Portfolio Advisors LLC. now owns 4,072 shares of the healthcare product maker’s stock valued at $443,000 after buying an additional 514 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $116.54 on Friday. The firm has a market capitalization of $202.74 billion, a PE ratio of 36.31, a PEG 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 1 year low of $91.64 and a 1 year high of $121.64. The firm’s fifty day simple moving average is $114.46 and its 200 day simple moving average is $108.62.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s 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 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of several research analyst reports. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Finally, Morgan Stanley boosted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.67.

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.