Abbott Laboratories (NYSE:ABT) Shares Sold by Northwest Quadrant Wealth Management LLC

Northwest Quadrant Wealth Management LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,224 shares of the healthcare product maker’s stock after selling 109 shares during the quarter. Northwest Quadrant Wealth Management LLC’s holdings in Abbott Laboratories were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrive Wealth Management LLC grew its stake in Abbott Laboratories by 3.8% during the 3rd quarter. Thrive Wealth Management LLC now owns 3,750 shares of the healthcare product maker’s stock worth $427,000 after purchasing an additional 136 shares in the last quarter. First Citizens Financial Corp purchased a new stake in shares of Abbott Laboratories during the third quarter worth approximately $207,000. Duncan Williams Asset Management LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $401,000. Apella Capital LLC grew its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. Apella Capital LLC now owns 6,191 shares of the healthcare product maker’s stock worth $704,000 after acquiring an additional 185 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position in shares of Abbott Laboratories by 5.3% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 66,470 shares of the healthcare product maker’s stock valued at $7,578,000 after purchasing an additional 3,330 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE:ABT traded up $0.41 during mid-day trading on Friday, hitting $112.64. 4,366,288 shares of the company’s stock traded hands, compared to its average volume of 5,757,640. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market cap of $195.95 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. 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 firm’s 50 day simple moving average is $112.37 and its 200 day simple moving average is $108.22.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Sell-side analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued 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 dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ABT shares. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Sandler started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

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.