Frazier Financial Advisors LLC Sells 361 Shares of Abbott Laboratories (NYSE:ABT)

Frazier Financial Advisors LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 28,368 shares of the healthcare product maker’s stock after selling 361 shares during the period. Abbott Laboratories makes up about 2.5% of Frazier Financial Advisors LLC’s holdings, making the stock its 11th biggest holding. Frazier Financial Advisors LLC’s holdings in Abbott Laboratories were worth $3,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $32,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ABT shares. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Finally, 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 target for the company. Four equities research 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, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Up 0.8 %

Abbott Laboratories stock opened at $115.90 on Friday. Abbott Laboratories has a 1-year low of $97.64 and a 1-year high of $121.64. The firm has a market capitalization of $201.02 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $115.53 and a 200 day simple moving average of $109.52.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. On average, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.