APG Asset Management US Inc. Sells 25,755 Shares of Abbott Laboratories (NYSE:ABT)

APG Asset Management US Inc. cut its position in Abbott Laboratories (NYSE:ABT) by 5.8% in the second quarter, HoldingsChannel.com reports. The firm owned 417,926 shares of the healthcare product maker’s stock after selling 25,755 shares during the period. APG Asset Management US Inc.’s holdings in Abbott Laboratories were worth $43,130,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter worth about $30,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.6 %

Abbott Laboratories stock opened at $112.61 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock’s 50 day simple moving average is $110.95 and its two-hundred day simple moving average is $108.36. The firm has a market cap of $195.90 billion, a PE ratio of 35.08, a P/E/G ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABT. Piper Sandler began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’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 transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.