Abbott Laboratories (NYSE:ABT) Shares Acquired by Xcel Wealth Management LLC

Xcel Wealth Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 16,434 shares of the healthcare product maker’s stock after purchasing an additional 625 shares during the quarter. Xcel Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ABT. Sierra Capital LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $241,000. Sequoia Financial Advisors LLC boosted its holdings in Abbott Laboratories by 19.6% during the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after buying an additional 31,720 shares in the last quarter. Graybill Wealth Management LTD. boosted its holdings in Abbott Laboratories by 2.8% during the third quarter. Graybill Wealth Management LTD. now owns 49,659 shares of the healthcare product maker’s stock worth $5,662,000 after buying an additional 1,371 shares in the last quarter. Home Federal Bank of Tennessee boosted its holdings in Abbott Laboratories by 3.0% during the third quarter. Home Federal Bank of Tennessee now owns 20,294 shares of the healthcare product maker’s stock worth $2,314,000 after buying an additional 600 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in Abbott Laboratories by 11.2% during the third quarter. Oakworth Capital Inc. now owns 9,359 shares of the healthcare product maker’s stock worth $1,067,000 after buying an additional 942 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.8 %

Abbott Laboratories stock traded down $0.89 during midday trading on Tuesday, hitting $116.10. 1,212,481 shares of the stock were exchanged, compared to its average volume of 5,722,539. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $201.97 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.74 and a beta of 0.72. The stock’s 50-day simple moving average is $114.16 and its 200 day simple moving average is $108.52. Abbott Laboratories has a fifty-two week low of $91.64 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.67.

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.