DMKC Advisory Services LLC Sells 8,197 Shares of Abbott Laboratories $ABT

DMKC Advisory Services LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,891 shares of the healthcare product maker’s stock after selling 8,197 shares during the quarter. DMKC Advisory Services LLC’s holdings in Abbott Laboratories were worth $3,448,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABT. BlackRock Inc. increased its holdings in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after buying an additional 6,769,518 shares in the last quarter. State Street Corp raised its position in shares of Abbott Laboratories by 1.7% in the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after acquiring an additional 1,350,766 shares during the period. Bank of America Corp DE purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $1,603,607,000. Deutsche Bank AG boosted its stake in shares of Abbott Laboratories by 18.6% during the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock worth $1,515,963,000 after acquiring an additional 2,614,965 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $1,082,524,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT opened at $110.41 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The company has a market cap of $191.04 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.02 and a beta of 0.54. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The firm’s fifty day simple moving average is $103.99 and its two-hundred day simple moving average is $101.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.42. The business had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Barclays initiated coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 price target for the company. Wells Fargo & Company upped their price target on Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. TD Cowen lowered their price target on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Robert W. Baird raised their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Wolfe Research upgraded Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the sale, the executive vice president directly owned 100,791 shares in the company, valued at approximately $11,691,756. The trade was a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.