Captrust Financial Advisors Cuts Stake in Abbott Laboratories (NYSE:ABT)

Captrust Financial Advisors cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 377,557 shares of the healthcare product maker's stock after selling 69,739 shares during the quarter. Captrust Financial Advisors' holdings in Abbott Laboratories were worth $43,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Transcend Capital Advisors LLC lifted its position in shares of Abbott Laboratories by 4.3% during the 2nd quarter. Transcend Capital Advisors LLC now owns 8,705 shares of the healthcare product maker's stock valued at $905,000 after buying an additional 359 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Abbott Laboratories by 20.3% during the 2nd quarter. GAMMA Investing LLC now owns 22,409 shares of the healthcare product maker's stock valued at $2,328,000 after buying an additional 3,774 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Abbott Laboratories by 54.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 65,920 shares of the healthcare product maker's stock valued at $6,850,000 after buying an additional 23,138 shares during the last quarter. Modus Advisors LLC lifted its position in shares of Abbott Laboratories by 3.5% during the 2nd quarter. Modus Advisors LLC now owns 12,559 shares of the healthcare product maker's stock valued at $1,305,000 after buying an additional 424 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its position in shares of Abbott Laboratories by 0.7% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 95,892 shares of the healthcare product maker's stock valued at $9,964,000 after buying an additional 692 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm's 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. UBS Group increased their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a report 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 report on Tuesday, November 5th. Mizuho upped their target price on 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 upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $130.07.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $0.18 during trading on Friday, hitting $118.77. The company's stock had a trading volume of 2,523,194 shares, compared to its average volume of 5,670,554. The company has a 50-day moving average of $115.87 and a 200-day moving average of $110.39. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap of $206.00 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.80 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. 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 prior year, the business earned $1.14 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) 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.