Abbott Laboratories (NYSE:ABT) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 547,589 shares of the healthcare product maker’s stock after selling 573 shares during the period. Gateway Investment Advisers LLC’s holdings in Abbott Laboratories were worth $62,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the first quarter worth $30,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter valued at $31,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

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 value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Up 0.4 %

ABT stock traded up $0.50 during trading hours on Friday, hitting $116.12. The company’s stock had a trading volume of 3,471,291 shares, compared to its average volume of 5,728,511. The company has a market capitalization of $202.01 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The stock has a 50 day moving average price of $113.13 and a two-hundred day moving average price of $108.35. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ABT shares. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Evercore ISI raised 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. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.15.

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.