Brooklyn Investment Group Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

Brooklyn Investment Group trimmed its position in Abbott Laboratories (NYSE:ABT) by 5.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,956 shares of the healthcare product maker’s stock after selling 726 shares during the quarter. Brooklyn Investment Group’s holdings in Abbott Laboratories were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. BDF Gestion purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at $7,651,000. Simplify Asset Management Inc. grew its position in shares of Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares in the last quarter. Dundas Partners LLP boosted its stake in Abbott Laboratories by 2.1% in the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after purchasing an additional 6,897 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares in the last quarter. Finally, MONECO Advisors LLC grew its stake in Abbott Laboratories by 110.1% during the third quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after acquiring an additional 16,325 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ABT. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley lifted 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. 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 report on Tuesday, October 1st. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Up 0.1 %

Abbott Laboratories stock opened at $118.28 on Tuesday. The business has a fifty day moving average price of $115.59 and a 200-day moving average price of $110.04. The stock has a market capitalization of $205.15 billion, a price-to-earnings ratio of 35.91, 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 1-year low of $99.71 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 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.