Abbott Laboratories (NYSE:ABT) Stake Reduced by AHL Investment Management Inc.

AHL Investment Management Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,550 shares of the healthcare product maker’s stock after selling 210 shares during the quarter. AHL Investment Management Inc.’s holdings in Abbott Laboratories were worth $1,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Insight Folios Inc boosted its stake in shares of Abbott Laboratories by 3.3% in the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the last quarter. Boltwood Capital Management boosted its stake in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after purchasing an additional 89 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares during the last quarter. Silicon Valley Capital Partners boosted its stake in shares of Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after purchasing an additional 89 shares during the last quarter. Finally, Atwood & Palmer Inc. boosted its stake in shares of Abbott Laboratories by 6.5% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after purchasing an additional 90 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Raymond James reissued a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, UBS Group lifted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

NYSE ABT opened at $117.69 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64. The company has a market capitalization of $204.13 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72. The firm’s 50 day moving average is $115.13 and its 200-day moving average is $109.02.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.