Certified Advisory Corp Has $653,000 Holdings in Abbott Laboratories (NYSE:ABT)

Certified Advisory Corp decreased its stake in Abbott Laboratories (NYSE:ABT) by 4.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,725 shares of the healthcare product maker’s stock after selling 265 shares during the period. Certified Advisory Corp’s holdings in Abbott Laboratories were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Waddell & Associates LLC bought a new position in Abbott Laboratories in the third quarter worth $212,000. Nicolet Advisory Services LLC raised its stake in shares of Abbott Laboratories by 7.1% in the third quarter. Nicolet Advisory Services LLC now owns 32,768 shares of the healthcare product maker’s stock valued at $3,678,000 after acquiring an additional 2,167 shares during the last quarter. Nwam LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $2,348,000. Meridian Wealth Management LLC acquired a new position in Abbott Laboratories in the third quarter worth $2,030,000. Finally, Studio Investment Management LLC raised its holdings in shares of Abbott Laboratories by 2.5% in the third quarter. Studio Investment Management LLC now owns 7,015 shares of the healthcare product maker’s stock valued at $800,000 after buying an additional 172 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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. The trade was a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler raised their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup lifted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Trading Up 0.4 %

NYSE:ABT opened at $117.76 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business’s 50-day simple moving average is $115.58 and its 200-day simple moving average is $109.91. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The stock has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating 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 firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

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.