Howard Capital Management Group LLC Has $237,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Howard Capital Management Group LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 19.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,076 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Howard Capital Management Group LLC’s holdings in Abbott Laboratories were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. LexAurum Advisors LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at $202,000. Onyx Bridge Wealth Group LLC lifted its position in Abbott Laboratories by 5.3% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 3,305 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 166 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Abbott Laboratories by 5.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 199,683 shares of the healthcare product maker’s stock worth $22,766,000 after buying an additional 10,874 shares in the last quarter. TruWealth Advisors LLC lifted its position in Abbott Laboratories by 2.5% during the 3rd quarter. TruWealth Advisors LLC now owns 123,522 shares of the healthcare product maker’s stock worth $14,083,000 after buying an additional 3,046 shares in the last quarter. Finally, Drake & Associates LLC lifted its position in Abbott Laboratories by 2.4% during the 3rd quarter. Drake & Associates LLC now owns 6,684 shares of the healthcare product maker’s stock worth $762,000 after buying an additional 154 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’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 completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ABT shares. Mizuho boosted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler upped their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Trading Up 0.1 %

ABT opened at $117.90 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64. The company’s 50 day moving average price is $113.76 and its two-hundred day moving average price is $108.47. The firm has a market capitalization of $205.10 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 1.87%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.