Kaydan Wealth Management Inc. Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Kaydan Wealth Management Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,893 shares of the healthcare product maker’s stock after selling 183 shares during the quarter. Kaydan Wealth Management Inc.’s holdings in Abbott Laboratories were worth $216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Abbott Laboratories by 2.1% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 52,860 shares of the healthcare product maker’s stock valued at $6,027,000 after acquiring an additional 1,075 shares during the last quarter. LaFleur & Godfrey LLC raised its stake in shares of Abbott Laboratories by 35.0% during the third quarter. LaFleur & Godfrey LLC now owns 66,751 shares of the healthcare product maker’s stock worth $7,610,000 after purchasing an additional 17,318 shares during the last quarter. Leisure Capital Management lifted its holdings in shares of Abbott Laboratories by 3.6% during the third quarter. Leisure Capital Management now owns 9,798 shares of the healthcare product maker’s stock worth $1,117,000 after purchasing an additional 345 shares during the period. Sumitomo Life Insurance Co. grew its position in Abbott Laboratories by 2.5% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 13,282 shares of the healthcare product maker’s stock valued at $1,514,000 after buying an additional 324 shares during the last quarter. Finally, Verum Partners LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $223,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Up 1.5 %

Abbott Laboratories stock opened at $117.82 on Thursday. Abbott Laboratories has a 52 week low of $91.25 and a 52 week high of $121.64. The stock has a market cap of $204.96 billion, a PE ratio of 36.70, a P/E/G ratio of 2.74 and a beta of 0.72. The stock has a 50-day moving average price of $113.60 and a 200 day moving average price of $108.40. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its 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. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share 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. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. 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 Companies began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $125.54.

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.