Measured Wealth Private Client Group LLC Trims Stake in Abbott Laboratories (NYSE:ABT)

Measured Wealth Private Client Group LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 28.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,322 shares of the healthcare product maker’s stock after selling 928 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Abbott Laboratories were worth $265,000 at the end of the most recent reporting period.

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 Abbott Laboratories during the second quarter valued at $28,000. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the second quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at about $37,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories during the 3rd quarter worth $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $113.59 on Thursday. The stock has a market cap of $197.63 billion, a PE ratio of 34.79, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The stock has a fifty day simple moving average of $114.79 and a 200-day simple moving average of $108.74. 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 released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 13.65% and a return on equity of 20.18%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent research reports. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

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.