Abbott Laboratories (NYSE:ABT) is Livelsberger Financial Advisory’s 3rd Largest Position

Livelsberger Financial Advisory cut its position in shares of Abbott Laboratories (NYSE:ABT) by 7.6% in the third quarter, Holdings Channel reports. The firm owned 2,841 shares of the healthcare product maker’s stock after selling 235 shares during the period. Abbott Laboratories accounts for 6.8% of Livelsberger Financial Advisory’s investment portfolio, making the stock its 3rd largest holding. Livelsberger Financial Advisory’s holdings in Abbott Laboratories were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Boltwood Capital Management grew its position in shares of Abbott Laboratories by 0.4% in the third 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 grew its position in shares of Abbott Laboratories by 2.9% in the third 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. Atwood & Palmer Inc. grew its position in shares of Abbott Laboratories by 6.5% in the third 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. Central Pacific Bank Trust Division grew its position in shares of Abbott Laboratories by 2.3% in the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after purchasing an additional 91 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its position in shares of Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock valued at $1,160,000 after purchasing an additional 92 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT traded down $2.31 on Monday, hitting $117.08. 4,260,419 shares of the company’s stock were exchanged, compared to its average volume of 5,724,347. The stock has a 50-day moving average of $113.97 and a 200-day moving average of $108.48. 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 has a 52 week low of $91.64 and a 52 week high of $121.64. The stock has a market cap of $203.68 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.74 and a beta of 0.72.

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, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ABT. Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Company 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.