MPS Loria Financial Planners LLC Has $2 Million Stake in Abbott Laboratories (NYSE:ABT)

MPS Loria Financial Planners LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,508 shares of the healthcare product maker’s stock after selling 777 shares during the quarter. Abbott Laboratories makes up 0.6% of MPS Loria Financial Planners LLC’s holdings, making the stock its 15th biggest holding. MPS Loria Financial Planners LLC’s holdings in Abbott Laboratories were worth $1,996,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the second quarter worth about $32,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $116.99 on Tuesday. The stock’s 50-day simple moving average is $114.16 and its 200 day simple moving average is $108.52. The company has a market cap of $203.52 billion, a P/E ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64.

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, 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 13.65%. The company 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 posted $1.14 EPS. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein raised their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Mizuho lifted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Activity

In other Abbott Laboratories 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 value of $16,492,852.39. Following the sale, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.