Lyell Wealth Management LP Sells 8,471 Shares of Abbott Laboratories $ABT

Lyell Wealth Management LP lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,886 shares of the healthcare product maker’s stock after selling 8,471 shares during the period. Lyell Wealth Management LP’s holdings in Abbott Laboratories were worth $4,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Associated Banc Corp purchased a new position in shares of Abbott Laboratories in the third quarter valued at approximately $9,823,000. Integrity Alliance LLC. increased its position in shares of Abbott Laboratories by 4.1% during the third quarter. Integrity Alliance LLC. now owns 10,695 shares of the healthcare product maker’s stock worth $1,057,000 after purchasing an additional 425 shares in the last quarter. Integrity Advisory Solutions LLC increased its position in shares of Abbott Laboratories by 2.5% during the third quarter. Integrity Advisory Solutions LLC now owns 22,528 shares of the healthcare product maker’s stock worth $2,226,000 after purchasing an additional 547 shares in the last quarter. First Nebraska Trust Co acquired a new position in Abbott Laboratories in the 3rd quarter valued at $594,000. Finally, Factory Mutual Insurance Co. raised its stake in Abbott Laboratories by 48.2% in the 3rd quarter. Factory Mutual Insurance Co. now owns 290,835 shares of the healthcare product maker’s stock valued at $28,743,000 after purchasing an additional 94,585 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $109.43 on Wednesday. The company’s 50 day simple moving average is $104.09 and its 200-day simple moving average is $101.91. The company has a market capitalization of $189.35 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.54. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $132.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting analysts’ consensus estimates of $1.42. The company had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. Abbott Laboratories’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 94.03%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABT. TD Cowen decreased their price objective on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Argus lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Wall Street Zen upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. BTIG Research decreased their price target on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.32.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.