Abbott Laboratories (NYSE:ABT) Shares Sold by Tsfg LLC

Tsfg LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,225 shares of the healthcare product maker’s stock after selling 1,822 shares during the period. Abbott Laboratories makes up approximately 2.3% of Tsfg LLC’s investment portfolio, making the stock its 12th largest position. Tsfg LLC’s holdings in Abbott Laboratories were worth $10,743,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the first quarter valued at $30,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $31,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ABT shares. 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. Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group reissued a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. Piper Sandler assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Finally, Citigroup increased their price target 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. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $125.54.

Abbott Laboratories Price Performance

Shares of ABT opened at $116.04 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $113.44 and its 200-day simple moving average is $108.34. The firm has a market capitalization of $201.87 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $90.87 and a twelve month high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.