Abbott Laboratories (NYSE:ABT) Shares Sold by Westhampton Capital LLC

Westhampton Capital LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,900 shares of the healthcare product maker’s stock after selling 200 shares during the period. Westhampton Capital LLC’s holdings in Abbott Laboratories were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BDF Gestion purchased a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $7,651,000. Dundas Partners LLP boosted its stake in shares of Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the last quarter. Duality Advisers LP purchased a new stake in Abbott Laboratories during the 1st quarter worth about $5,634,000. Oak Harvest Investment Services lifted its holdings in Abbott Laboratories by 32.7% in the 1st quarter. Oak Harvest Investment Services now owns 73,651 shares of the healthcare product maker’s stock valued at $8,371,000 after purchasing an additional 18,131 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock worth $5,624,000 after purchasing an additional 14,215 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler raised their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. 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 MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Stock Down 0.7 %

Shares of NYSE ABT opened at $116.12 on Wednesday. The stock has a fifty day moving average price of $114.31 and a 200 day moving average price of $108.56. The company has a market cap of $202.01 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The business 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 company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. Research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

About Abbott Laboratories

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.