Warren Street Wealth Advisors LLC Trims Position in Abbott Laboratories (NYSE:ABT)

Warren Street Wealth Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,844 shares of the healthcare product maker’s stock after selling 112 shares during the period. Warren Street Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the second quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABT shares. Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup lifted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday. Barclays lifted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Price Performance

NYSE ABT opened at $119.39 on Friday. The company has a market cap of $207.69 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock’s fifty day moving average price is $113.97 and its 200 day moving average price is $108.50. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share 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 $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction 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 directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.