Curated Wealth Partners LLC Sells 4,024,218 Shares of Abbott Laboratories $ABT

Curated Wealth Partners LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 99.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,175 shares of the healthcare product maker’s stock after selling 4,024,218 shares during the quarter. Curated Wealth Partners LLC’s holdings in Abbott Laboratories were worth $1,302,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ABT. Copley Financial Group Inc. boosted its holdings in shares of Abbott Laboratories by 2.1% in the 4th quarter. Copley Financial Group Inc. now owns 4,435 shares of the healthcare product maker’s stock valued at $556,000 after purchasing an additional 93 shares in the last quarter. St. Johns Investment Management Company LLC raised its holdings in shares of Abbott Laboratories by 1.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after buying an additional 101 shares in the last quarter. Davidson Investment Advisors raised its holdings in shares of Abbott Laboratories by 3.6% during the 2nd quarter. Davidson Investment Advisors now owns 3,084 shares of the healthcare product maker’s stock worth $280,000 after buying an additional 106 shares in the last quarter. Kinloch Capital LLC raised its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Kinloch Capital LLC now owns 29,202 shares of the healthcare product maker’s stock worth $3,659,000 after buying an additional 111 shares in the last quarter. Finally, Howard Financial Services LTD. lifted its position in shares of Abbott Laboratories by 4.7% during the 2nd quarter. Howard Financial Services LTD. now owns 2,451 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 111 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $1.61 during mid-day trading on Thursday, hitting $104.58. 4,032,164 shares of the stock traded hands, compared to its average volume of 11,249,782. The company has a market cap of $180.97 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.59. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $106.03 and a two-hundred day simple moving average of $98.26.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%. The business had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $12.52 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 5.52 EPS 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. Stockholders of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. Abbott Laboratories’s dividend payout ratio is currently 81.55%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABT. TD Cowen reiterated a “buy” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, September 8th. Barclays began coverage on shares of Abbott Laboratories in a report on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 target price for the company. UBS Group reduced their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price target on the stock. Finally, BTIG Research lifted their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

Abbott Laboratories Profile

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.