Oppenheimer & Co. Inc. Has $11.40 Million Holdings in Abbott Laboratories (NYSE:ABT)

Oppenheimer & Co. Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,996 shares of the healthcare product maker’s stock after selling 113 shares during the period. Oppenheimer & Co. Inc.’s holdings in Abbott Laboratories were worth $11,401,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABT shares. Morgan Stanley raised their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Barclays increased their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT opened at $115.74 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52-week low of $96.20 and a 52-week high of $121.64. The firm has a market cap 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 business’s fifty day moving average is $115.43 and its 200-day moving average is $109.35.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 13.99%. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is presently 66.87%.

About Abbott Laboratories

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.