Ipswich Investment Management Co. Inc. Has $2.06 Million Holdings in Abbott Laboratories (NYSE:ABT)

Ipswich Investment Management Co. Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 50.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,061 shares of the healthcare product maker's stock after selling 18,398 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in Abbott Laboratories were worth $2,059,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABT. Capital International Investors boosted its stake in Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker's stock valued at $7,976,382,000 after buying an additional 5,882,780 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Abbott Laboratories by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker's stock valued at $1,103,997,000 after buying an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker's stock valued at $771,940,000 after buying an additional 1,596,835 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Abbott Laboratories by 8.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,683,586 shares of the healthcare product maker's stock valued at $761,996,000 after buying an additional 524,683 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Abbott Laboratories by 13.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,654,712 shares of the healthcare product maker's stock valued at $483,673,000 after buying an additional 563,506 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.8 %

Shares of ABT traded up $0.87 during mid-day trading on Friday, reaching $115.90. 6,898,605 shares of the company were exchanged, compared to its average volume of 5,701,520. Abbott Laboratories has a 52 week low of $97.64 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market capitalization of $201.02 billion, a PE ratio of 35.23, a PEG ratio of 2.72 and a beta of 0.72. The business has a 50 day simple moving average of $115.53 and a two-hundred day simple moving average of $109.49.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. On average, analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories's 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 firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an "overweight" rating and a $131.00 target price for the company. Finally, Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and an average 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.