O Brien Greene & Co. Inc Trims Stake in Abbott Laboratories (NYSE:ABT)

O Brien Greene & Co. Inc trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 11,137 shares of the healthcare product maker’s stock after selling 232 shares during the period. O Brien Greene & Co. Inc’s holdings in Abbott Laboratories were worth $1,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harvest Investment Advisors LLC lifted its stake in Abbott Laboratories by 1.9% during the third quarter. Harvest Investment Advisors LLC now owns 13,552 shares of the healthcare product maker’s stock worth $1,545,000 after purchasing an additional 255 shares in the last quarter. Geller Advisors LLC boosted its holdings in Abbott Laboratories by 6.9% during the 3rd quarter. Geller Advisors LLC now owns 9,552 shares of the healthcare product maker’s stock valued at $1,089,000 after acquiring an additional 619 shares during the period. Groupama Asset Managment increased its stake in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Abbott Laboratories by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,109,047 shares of the healthcare product maker’s stock valued at $126,442,000 after purchasing an additional 68,779 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Abbott Laboratories in the third quarter valued at approximately $5,485,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Jefferies Financial Group increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Up 0.0 %

Abbott Laboratories stock opened at $115.60 on Monday. The company has a market capitalization of $200.50 billion, a P/E ratio of 35.14, a PEG ratio of 2.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The stock has a 50-day simple moving average of $116.15 and a 200-day simple moving average of $110.86.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid 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 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

Abbott Laboratories Company 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.