Sippican Capital Advisors Trims Position in Abbott Laboratories (NYSE:ABT)

Sippican Capital Advisors lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,590 shares of the healthcare product maker’s stock after selling 100 shares during the period. Sippican Capital Advisors’ holdings in Abbott Laboratories were worth $409,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BDF Gestion bought a new stake in Abbott Laboratories during the second quarter valued at about $7,651,000. Dundas Partners LLP boosted its stake in shares of Abbott Laboratories by 2.1% in the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares during the period. Duality Advisers LP bought a new position in shares of Abbott Laboratories in the first quarter worth about $5,634,000. MONECO Advisors LLC boosted its stake in shares of Abbott Laboratories by 110.1% in the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after acquiring an additional 16,325 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Abbott Laboratories by 40.3% in the first quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after acquiring an additional 14,215 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.8 %

ABT stock traded down $0.88 during midday trading on Thursday, reaching $113.57. 178,866 shares of the company traded hands, compared to its average volume of 5,682,340. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The business has a 50 day moving average of $114.79 and a 200-day moving average of $108.74. The firm has a market capitalization of $197.60 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Ratings Changes

ABT has been the subject of a number of recent analyst reports. Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Mizuho boosted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.67.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred 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 owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

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.