Insigneo Advisory Services LLC Has $1.44 Million Holdings in Abbott Laboratories (NYSE:ABT)

Insigneo Advisory Services LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,266 shares of the healthcare product maker’s stock after selling 339 shares during the period. Insigneo Advisory Services LLC’s holdings in Abbott Laboratories were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the 2nd quarter worth $28,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the first quarter worth about $30,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the second quarter worth approximately $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Down 0.6 %

Shares of ABT opened at $112.61 on Thursday. The stock has a market capitalization of $195.90 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. 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 fifty day moving average of $110.95 and a 200-day moving average of $108.36.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Piper Sandler began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

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.