CX Institutional Sells 428 Shares of Abbott Laboratories (NYSE:ABT)

CX Institutional decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 12,453 shares of the healthcare product maker’s stock after selling 428 shares during the quarter. CX Institutional’s holdings in Abbott Laboratories were worth $1,420,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, 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 SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price objective on shares of Abbott Laboratories in a research report on Thursday, September 26th. Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $125.54.

Abbott Laboratories Price Performance

ABT opened at $117.82 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company has a market capitalization of $204.96 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.74 and a beta of 0.72. The firm’s fifty day moving average price is $113.60 and its two-hundred day moving average price is $108.40. Abbott Laboratories has a 1 year low of $91.25 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. As a group, analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

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.