Abbott Laboratories (NYSE:ABT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,277,606 shares of the healthcare product maker's stock after selling 123,584 shares during the period. Abbott Laboratories accounts for approximately 0.5% of Assenagon Asset Management S.A.'s portfolio, making the stock its 28th largest position. Assenagon Asset Management S.A. owned 0.13% of Abbott Laboratories worth $259,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker's stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the last quarter. Capital International Investors raised its holdings in shares of 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 during the last quarter. Swedbank AB purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $341,777,000. Sessa Capital IM L.P. purchased a new stake in shares of Abbott Laboratories in the second quarter valued at about $264,876,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Abbott Laboratories by 13,194.9% in the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker's stock valued at $191,515,000 after buying an additional 1,667,170 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.47 during trading hours on Thursday, hitting $116.54. The company's stock had a trading volume of 3,763,679 shares, compared to its average volume of 5,723,130. The business has a fifty day moving average of $114.46 and a 200-day moving average of $108.62. The stock has a market cap of $202.74 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories's payout ratio is 68.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Piper Sandler upped their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an "overweight" rating and a $131.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.67.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 transaction, the chief executive officer now owns 220,059 shares of the company's stock, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by 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.