Focus Financial Network Inc. Sells 229 Shares of Abbott Laboratories (NYSE:ABT)

Focus Financial Network Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.6% in the third quarter, Holdings Channel.com reports. The firm owned 36,798 shares of the healthcare product maker’s stock after selling 229 shares during the period. Focus Financial Network Inc.’s holdings in Abbott Laboratories were worth $4,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $37,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Jefferies Financial Group boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Finally, Piper Sandler increased their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $119.00 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $207.05 billion, a PE ratio of 34.47, a P/E/G ratio of 2.69 and a beta of 0.72. Abbott Laboratories has a 12 month low of $92.43 and a 12 month high of $121.64. The stock has a 50-day moving average price of $114.82 and a two-hundred day moving average price of $108.78.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

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.