Abbott Laboratories (NYSE:ABT) Shares Sold by Ascension Asset Management LLC

Ascension Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,369 shares of the healthcare product maker’s stock after selling 1,150 shares during the period. Ascension Asset Management LLC’s holdings in Abbott Laboratories were worth $1,035,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABT. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Abbott Laboratories by 3.8% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after purchasing an additional 116 shares in the last quarter. MCF Advisors LLC boosted its position in Abbott Laboratories by 4.1% during the second quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock worth $250,000 after purchasing an additional 118 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in Abbott Laboratories by 2.3% during the second quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock worth $452,000 after purchasing an additional 122 shares in the last quarter. M&R Capital Management Inc. boosted its position in Abbott Laboratories by 0.5% during the second quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock worth $2,193,000 after purchasing an additional 126 shares in the last quarter. Finally, Advantage Investment Management LLC boosted its position in Abbott Laboratories by 4.6% during the second quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 128 shares in the last quarter. 73.78% of the stock is currently owned by hedge funds and other institutional investors.

ABT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James decreased their target price on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Credit Suisse Group boosted their target price on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.61.

In related news, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the transaction, the director now directly owns 26,266 shares in the company, valued at $2,302,214.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian B. Yoor sold 43,763 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.77, for a total value of $3,753,552.51. Following the completion of the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The disclosure for this sale can be found here. Insiders sold 116,497 shares of company stock worth $9,981,160 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Shares of NYSE:ABT opened at $80.54 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a 52-week low of $65.44 and a 52-week high of $88.76. The stock’s fifty day simple moving average is $82.64 and its 200-day simple moving average is $81.81. The company has a market capitalization of $144.31 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.36 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.59%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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