Mission Wealth Management LP cut its stake in Abbott Laboratories (NYSE:ABT) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,164 shares of the healthcare product maker’s stock after selling 1,497 shares during the period. Mission Wealth Management LP’s holdings in Abbott Laboratories were worth $1,410,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ABT. 4Thought Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $25,000. Holloway Wealth Management LLC raised its holdings in Abbott Laboratories by 150.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock valued at $29,000 after buying an additional 150 shares during the period. Sierra Capital LLC purchased a new stake in Abbott Laboratories during the first quarter worth about $30,000. CKW Financial Group purchased a new stake in shares of Abbott Laboratories during the second quarter worth approximately $36,000. Finally, Isthmus Partners LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth approximately $36,000. Institutional investors own 72.05% of the company’s stock.
Shares of NYSE:ABT opened at $127.44 on Friday. The company has a fifty day moving average of $123.39 and a 200-day moving average of $119.41. The company has a market capitalization of $225.93 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.79. Abbott Laboratories has a 52-week low of $100.34 and a 52-week high of $129.70.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is currently 49.32%.
In other news, SVP Michael D. Dale sold 17,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $120.33, for a total transaction of $2,117,808.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sammy Karam sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,883 shares of company stock valued at $27,964,400. 1.50% of the stock is owned by insiders.
ABT has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. Cowen increased their price objective on Abbott Laboratories from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. Credit Suisse Group raised their target price on Abbott Laboratories from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Barclays lowered their price target on Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, June 2nd. Finally, Raymond James boosted their price target on Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $128.93.
Abbott Laboratories Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.