Mayflower Financial Advisors LLC Trims Holdings in Abbott Laboratories (NYSE:ABT)

Mayflower Financial Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,253 shares of the healthcare product maker’s stock after selling 199 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter worth about $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories in the second quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 1.1 %

ABT opened at $116.59 on Friday. The business has a fifty day moving average price of $115.32 and a 200 day moving average price of $109.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 12 month low of $92.43 and a 12 month high of $121.64. The stock has a market capitalization of $202.22 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.75 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm 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 firm earned $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ABT shares. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.