Abbott Laboratories $ABT Stock Sold by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 23.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,018 shares of the healthcare product maker’s stock after selling 5,679 shares during the period. Tred Avon Family Wealth LLC’s holdings in Abbott Laboratories were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Parkway Wealth Management Group LLC raised its stake in shares of Abbott Laboratories by 3.2% in the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after acquiring an additional 98 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Abbott Laboratories by 2.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 255,880 shares of the healthcare product maker’s stock worth $25,289,000 after purchasing an additional 6,425 shares in the last quarter. Jeppson Wealth Management LLC grew its stake in shares of Abbott Laboratories by 4.0% during the third quarter. Jeppson Wealth Management LLC now owns 15,382 shares of the healthcare product maker’s stock valued at $1,520,000 after purchasing an additional 589 shares during the last quarter. CFS Investment Advisory Services LLC grew its stake in shares of Abbott Laboratories by 7.4% during the third quarter. CFS Investment Advisory Services LLC now owns 17,930 shares of the healthcare product maker’s stock valued at $1,760,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Warwick Investment Management Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $215,000. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ABT shares. Citigroup boosted their price objective on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Company upped their price target on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

Abbott Laboratories Price Performance

Shares of ABT opened at $104.14 on Tuesday. The stock has a market cap of $180.19 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $132.02. The stock’s 50-day moving average price is $105.82 and its two-hundred day moving average price is $98.30. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.