Cravens & Co Advisors LLC Has $1 Million Position in Abbott Laboratories (NYSE:ABT)

Cravens & Co Advisors LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 9.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,794 shares of the healthcare product maker’s stock after selling 886 shares during the quarter. Abbott Laboratories comprises about 0.8% of Cravens & Co Advisors LLC’s holdings, making the stock its 27th biggest holding. Cravens & Co Advisors LLC’s holdings in Abbott Laboratories were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the second quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth about $32,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $117.95 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $115.59 and its 200-day moving average is $110.13. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The firm has a market cap of $204.58 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.78 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analysts Set New Price Targets

A number of research firms recently commented on ABT. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Sanford C. Bernstein upped their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

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.