Abbott Laboratories (NYSE:ABT) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 50.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 234,769 shares of the healthcare product maker’s stock after selling 241,362 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Abbott Laboratories were worth $26,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Insight Folios Inc grew its holdings in Abbott Laboratories by 3.3% during the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after buying an additional 87 shares during the last quarter. Boltwood Capital Management boosted its stake in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares in the last quarter. Silicon Valley Capital Partners boosted its position in Abbott Laboratories by 8.7% during the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after acquiring an additional 89 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in Abbott Laboratories by 6.5% in the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after purchasing an additional 90 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

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 that occurred on Thursday, September 12th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.3 %

Shares of ABT traded down $0.30 during trading on Thursday, reaching $115.44. The company’s stock had a trading volume of 143,790 shares, compared to its average volume of 5,679,619. Abbott Laboratories has a twelve month low of $96.92 and a twelve month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $200.22 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a fifty day moving average of $115.45 and a two-hundred day moving average of $109.39.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared 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 1.91%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABT shares. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.