4,857 Abbott Laboratories $ABT Shares Sold by Iams Wealth Management LLC

Iams Wealth Management LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 21.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,164 shares of the healthcare product maker’s stock after selling 4,857 shares during the period. Iams Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,795,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Detalus Advisors LLC raised its holdings in shares of Abbott Laboratories by 0.9% in the third quarter. Detalus Advisors LLC now owns 14,948 shares of the healthcare product maker’s stock worth $1,477,000 after acquiring an additional 136 shares during the last quarter. Whitener Capital Management Inc. boosted its stake in shares of Abbott Laboratories by 0.6% during the third quarter. Whitener Capital Management Inc. now owns 25,539 shares of the healthcare product maker’s stock valued at $2,524,000 after acquiring an additional 146 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co boosted its stake in shares of Abbott Laboratories by 13.1% during the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 3,595 shares of the healthcare product maker’s stock valued at $355,000 after acquiring an additional 417 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Abbott Laboratories by 61.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,187,488 shares of the healthcare product maker’s stock worth $512,679,000 after purchasing an additional 1,968,916 shares in the last quarter. Finally, Howard Financial Services LTD. increased its position in Abbott Laboratories by 31.8% during the 3rd quarter. Howard Financial Services LTD. now owns 3,230 shares of the healthcare product maker’s stock worth $319,000 after purchasing an additional 780 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BTIG Research upped their target price on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 17th. UBS Group lowered their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price target for the company. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.88.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $104.79 on Friday. The company has a market cap of $181.33 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.91 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The business has a fifty day simple moving average of $105.97 and a 200-day simple moving average of $98.26.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 81.55%.

About Abbott Laboratories

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.