Ingalls & Snyder LLC Sells 282 Shares of Abbott Laboratories (NYSE:ABT)

Ingalls & Snyder LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 0.1% during the third quarter, HoldingsChannel.com reports. The fund owned 246,630 shares of the healthcare product maker’s stock after selling 282 shares during the period. Abbott Laboratories accounts for 1.1% of Ingalls & Snyder LLC’s portfolio, making the stock its 17th largest holding. Ingalls & Snyder LLC’s holdings in Abbott Laboratories were worth $28,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Massachusetts Financial Services Co. MA grew its stake in Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. bought a new stake in Abbott Laboratories during the second quarter worth about $264,876,000. Assenagon Asset Management S.A. grew its stake in Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after buying an additional 1,996,320 shares during the last quarter. International Assets Investment Management LLC grew its stake in Abbott Laboratories by 13,194.9% during the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after buying an additional 1,667,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Abbott Laboratories by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker’s stock worth $771,940,000 after buying an additional 1,596,835 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABT. Raymond James reissued a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Evercore ISI increased their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Up 0.1 %

Abbott Laboratories stock traded up $0.09 during mid-day trading on Tuesday, reaching $116.90. The company’s stock had a trading volume of 369,740 shares, compared to its average volume of 5,645,984. The business’s 50 day simple moving average is $115.87 and its 200 day simple moving average is $110.43. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a market capitalization of $202.76 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 66.87%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The shares were 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 $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.