Abbott Laboratories $ABT Shares Sold by Sanders Capital LLC

Sanders Capital LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,004,725 shares of the healthcare product maker’s stock after selling 45,680 shares during the quarter. Sanders Capital LLC’s holdings in Abbott Laboratories were worth $99,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Foresight Capital Management Advisors Inc. acquired a new position in shares of Abbott Laboratories in the 3rd quarter worth $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $31,000. Balance Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the third quarter valued at $34,000. Summit Securities Group LLC boosted its position in shares of Abbott Laboratories by 41.3% in the 2nd quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Finally, Addison Advisors LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Mary Moreland sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the sale, the executive vice president directly owned 100,791 shares of the company’s stock, valued at $11,691,756. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

ABT traded down $3.58 on Friday, hitting $110.02. 8,345,115 shares of the stock traded hands, compared to its average volume of 9,814,218. The firm has a market capitalization of $190.38 billion, a PE ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54. 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 has a 52 week low of $81.97 and a 52 week high of $132.02. The business has a fifty day moving average price of $104.04 and a two-hundred day moving average price of $101.78.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting the consensus estimate of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed 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 yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 94.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group dropped their price target on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 13th. TD Cowen dropped their target price on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Robert W. Baird lifted their target price on shares of Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.