Mattson Financial Services LLC Cuts Position in Abbott Laboratories (NYSE:ABT)

Mattson Financial Services LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,350 shares of the healthcare product maker’s stock after selling 163 shares during the period. Mattson Financial Services LLC’s holdings in Abbott Laboratories were worth $2,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during 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. bought a new position in Abbott Laboratories in the fourth quarter worth about $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the fourth quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter worth about $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 1.1 %

Shares of Abbott Laboratories stock opened at $114.61 on Wednesday. The company’s fifty day simple moving average is $112.54 and its 200-day simple moving average is $108.18. The stock has a market capitalization of $199.38 billion, a PE ratio of 35.70, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate 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 was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. 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 research note on Monday, July 29th. Finally, Royal Bank of Canada increased their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

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.