10,474 Abbott Laboratories $ABT Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 23.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,988 shares of the healthcare product maker’s stock after selling 10,474 shares during the quarter. SVB Wealth LLC’s holdings in Abbott Laboratories were worth $3,359,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE bought a new position in Abbott Laboratories during the second quarter worth about $1,603,607,000. Legal & General Group Plc bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $1,082,524,000. Flossbach Von Storch SE bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $902,938,000. Jupiter Topco LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $732,788,000. Finally, BlackRock Inc. grew its position in shares of Abbott Laboratories by 4.6% during the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares in the company, valued at approximately $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $107.23 on Friday. The company has a market cap of $185.71 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.92 and a beta of 0.54. The company has a quick ratio of 1.00, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The business has a fifty day simple moving average of $103.94 and a 200 day simple moving average of $101.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.42. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.30 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 94.03%.

Analysts Set New Price Targets

Several brokerages have recently commented on ABT. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Weiss Ratings upgraded Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. BTIG Research cut their price target on Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. TD Cowen reduced their price target on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.