Mizuho Securities USA LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Mizuho Securities USA LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,823 shares of the healthcare product maker's stock after selling 21,310 shares during the quarter. Mizuho Securities USA LLC's holdings in Abbott Laboratories were worth $12,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. BDF Gestion purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth $7,651,000. Dundas Partners LLP boosted its stake in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker's stock worth $34,313,000 after buying an additional 6,897 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 19.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker's stock valued at $22,091,000 after acquiring an additional 31,720 shares during the period. Simplify Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker's stock worth $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Finally, MONECO Advisors LLC boosted its position in shares of Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker's stock worth $3,551,000 after purchasing an additional 16,325 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company'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 transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $115.90 on Friday. The firm has a fifty day moving average price of $115.53 and a 200 day moving average price of $109.52. The stock has a market cap of $201.02 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. Abbott Laboratories has a 1-year low of $97.64 and a 1-year 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business's revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an "overweight" rating and a $131.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Piper Sandler increased their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $130.07.

Abbott Laboratories 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.