Koshinski Asset Management Inc. Sells 369 Shares of Abbott Laboratories (NYSE:ABT)

Koshinski Asset Management Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,535 shares of the healthcare product maker’s stock after selling 369 shares during the period. Koshinski Asset Management Inc.’s holdings in Abbott Laboratories were worth $2,797,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the second quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth approximately $31,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4 %

Shares of ABT stock traded up $0.50 during mid-day trading on Friday, reaching $116.12. 3,471,291 shares of the company’s stock traded hands, compared to its average volume of 5,728,511. The company’s 50-day moving average price is $113.13 and its 200-day moving average price is $108.33. The company has a market cap of $202.01 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. 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 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the company earned $1.08 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on ABT. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $125.15.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 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 filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.