Cable Hill Partners LLC Acquires 705 Shares of Abbott Laboratories (NYSE:ABT)

Cable Hill Partners LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,698 shares of the healthcare product maker’s stock after purchasing an additional 705 shares during the period. Cable Hill Partners LLC’s holdings in Abbott Laboratories were worth $1,106,000 at the end of the most recent reporting period.

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

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ABT shares. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays lifted their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $115.74 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $96.20 and a 12 month high of $121.64. The company has a market capitalization of $200.75 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.74 and a beta of 0.72. The firm’s 50-day moving average is $115.43 and its 200 day moving average is $109.35.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

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.