First Affirmative Financial Network Sells 190 Shares of Abbott Laboratories (NYSE:ABT)

First Affirmative Financial Network lessened its holdings in Abbott Laboratories (NYSE:ABT) by 4.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,214 shares of the healthcare product maker’s stock after selling 190 shares during the period. First Affirmative Financial Network’s holdings in Abbott Laboratories were worth $480,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares in the last quarter. Capital International Investors raised its stake in shares of Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after acquiring an additional 1,027,390 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Abbott Laboratories by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker’s stock worth $1,103,997,000 after acquiring an additional 508,524 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock worth $1,092,133,000 after acquiring an additional 228,039 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 target on the stock. 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 research note on Tuesday, October 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.15.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $116.13 on Friday. The company’s fifty day moving average price is $113.13 and its 200 day moving average price is $108.35. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market capitalization of $202.02 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) 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 firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.