Exencial Wealth Advisors LLC Has $18.09 Million Holdings in Abbott Laboratories (NYSE:ABT)

Exencial Wealth Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,639 shares of the healthcare product maker’s stock after selling 4,838 shares during the period. Exencial Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $18,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $32,000. Valued Wealth Advisors LLC increased its stake in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.8 %

Shares of Abbott Laboratories stock opened at $116.77 on Thursday. The business has a fifty day simple moving average of $115.20 and a two-hundred day simple moving average of $109.08. Abbott Laboratories has a 1 year low of $92.43 and a 1 year high of $121.64. The company has a market capitalization of $202.53 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.79 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 (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 quarter last year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Barclays increased their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.