Abbott Laboratories (NYSE:ABT) Stake Reduced by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,653 shares of the healthcare product maker’s stock after selling 419 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Abbott Laboratories were worth $2,697,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Barclays increased their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Royal Bank of Canada upped their price target 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. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

ABT opened at $116.54 on Friday. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $202.74 billion, a P/E ratio of 36.31, a PEG ratio of 2.74 and a beta of 0.72. The stock has a fifty day moving average of $114.46 and a 200-day moving average of $108.62.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.