Quotient Wealth Partners LLC Has $583,000 Stake in Abbott Laboratories (NYSE:ABT)

Quotient Wealth Partners LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,111 shares of the healthcare product maker’s stock after acquiring an additional 423 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Abbott Laboratories were worth $583,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $30,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.3 %

Shares of ABT stock opened at $115.62 on Friday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a 50 day moving average price of $112.93 and a two-hundred day moving average price of $108.26. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $201.14 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS. As a group, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABT shares. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.