Genesee Capital Advisors LLC Has $978,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Genesee Capital Advisors LLC lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,575 shares of the healthcare product maker’s stock after selling 105 shares during the period. Genesee Capital Advisors LLC’s holdings in Abbott Laboratories were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ABT. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares in the last quarter. Capital International Investors boosted its stake in Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Swedbank AB bought a new position in shares of Abbott Laboratories during the first quarter valued at $341,777,000. Sessa Capital IM L.P. bought a new position in shares of Abbott Laboratories during the second quarter valued at $264,876,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after acquiring an additional 1,996,320 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Trading Down 2.0 %

NYSE:ABT traded down $2.35 on Monday, hitting $117.04. 4,019,678 shares of the stock were exchanged, compared to its average volume of 5,723,655. The stock has a market capitalization of $203.61 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The company’s 50-day moving average price is $113.97 and its 200 day moving average price is $108.48. 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 posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley lifted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

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.