Oppenheimer & Co. Inc. Lowers Position in Abbott Laboratories (NYSE:ABT)

Oppenheimer & Co. Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,996 shares of the healthcare product maker’s stock after selling 113 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Abbott Laboratories were worth $11,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories in the second quarter worth $32,000. Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Barclays increased their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Down 0.6 %

Shares of NYSE:ABT opened at $115.74 on Thursday. The company has a market cap of $200.75 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $96.20 and a one year high of $121.64. The firm has a fifty day moving average price of $115.43 and a two-hundred day moving average price of $109.35. 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 (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Analysts anticipate 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 paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

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.