Chevy Chase Trust Holdings LLC Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 967,226 shares of the healthcare product maker’s stock after selling 16,952 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Abbott Laboratories worth $110,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth approximately $28,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter worth about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.2 %

Shares of NYSE ABT opened at $118.77 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $206.00 billion, a PE ratio of 36.10, a PEG ratio of 2.79 and a beta of 0.72. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The stock has a fifty day simple moving average of $115.87 and a 200-day simple moving average of $110.43.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the company posted $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.85%. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ABT shares. Evercore ISI increased their price objective 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. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.