TCTC Holdings LLC Sells 473 Shares of Abbott Laboratories (NYSE:ABT)

TCTC Holdings LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 102,912 shares of the healthcare product maker’s stock after selling 473 shares during the period. TCTC Holdings LLC’s holdings in Abbott Laboratories were worth $11,733,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Abbott Laboratories during the first quarter valued at about $2,375,000. Empowered Funds LLC raised its holdings in Abbott Laboratories by 40.3% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the healthcare product maker’s stock valued at $5,624,000 after acquiring an additional 14,215 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Abbott Laboratories by 200.0% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 1,128 shares of the healthcare product maker’s stock worth $128,000 after acquiring an additional 752 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Abbott Laboratories by 2.1% in the first quarter. TCI Wealth Advisors Inc. now owns 19,129 shares of the healthcare product maker’s stock valued at $2,174,000 after purchasing an additional 385 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its stake in shares of Abbott Laboratories by 2.6% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 396,178 shares of the healthcare product maker’s stock valued at $45,030,000 after purchasing an additional 10,213 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Up 1.1 %

Shares of NYSE ABT opened at $116.59 on Friday. The stock has a market capitalization of $202.22 billion, a P/E ratio of 35.44, a PEG ratio of 2.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The firm’s 50 day simple moving average is $115.32 and its two-hundred day simple moving average is $109.19.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued 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 is presently 66.87%.

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.