Fidelis Capital Partners LLC Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Fidelis Capital Partners LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 7.6% during the second quarter, HoldingsChannel reports. The firm owned 16,383 shares of the healthcare product maker’s stock after selling 1,340 shares during the period. Fidelis Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,801,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Gilbert & Cook Inc. grew its position in Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after acquiring an additional 1,120 shares in the last quarter. Accretive Wealth Partners LLC lifted its stake in Abbott Laboratories by 1.2% during the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock worth $1,466,000 after purchasing an additional 152 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after purchasing an additional 413 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after purchasing an additional 3,767 shares during the last quarter. Finally, TrinityPoint Wealth LLC raised its holdings in shares of Abbott Laboratories by 1.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after buying an additional 376 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $113.70 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a market capitalization of $197.80 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The stock’s 50 day moving average price is $110.50 and its 200-day moving average price is $108.53. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABT shares. Barclays increased their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI decreased their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Citigroup upped their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday. They set an “overweight” rating and a $131.00 target price for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Abbott Laboratories 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.