Fairfield Financial Advisors LTD lowered its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 25.8% in the third quarter, HoldingsChannel reports. The fund owned 22,809 shares of the healthcare product maker’s stock after selling 7,934 shares during the quarter. Abbott Laboratories makes up about 0.9% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 24th largest position. Fairfield Financial Advisors LTD’s holdings in Abbott Laboratories were worth $2,600,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Insight Folios Inc lifted its holdings in shares of 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 lifted its holdings in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after buying an additional 89 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of 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 valued at $359,000 after buying an additional 89 shares during the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after buying an additional 90 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock valued at $461,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories Price Performance
ABT stock traded down $0.52 during trading on Thursday, hitting $113.93. The company had a trading volume of 1,023,404 shares, compared to its average volume of 5,686,343. The company has a fifty day moving average price of $114.79 and a two-hundred day moving average price of $108.74. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company has a market cap of $198.23 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64.
Abbott Laboratories Dividend Announcement
The firm 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.
Insiders Place Their Bets
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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
ABT has been the subject of several research reports. Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. UBS Group boosted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup boosted their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Piper Sandler lifted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.67.
Read Our Latest Stock Report on Abbott Laboratories
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.
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