Sageworth Trust Co Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Sageworth Trust Co lowered its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,848 shares of the healthcare product maker's stock after selling 11,417 shares during the quarter. Abbott Laboratories makes up about 0.4% of Sageworth Trust Co's investment portfolio, making the stock its 20th largest holding. Sageworth Trust Co's holdings in Abbott Laboratories were worth $5,911,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Forsta AP Fonden boosted its position in shares of Abbott Laboratories by 10.0% during the third quarter. Forsta AP Fonden now owns 422,100 shares of the healthcare product maker's stock valued at $48,124,000 after purchasing an additional 38,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Abbott Laboratories by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,961 shares of the healthcare product maker's stock valued at $19,990,000 after purchasing an additional 35,127 shares during the last quarter. Osborne Partners Capital Management LLC raised its position in Abbott Laboratories by 0.3% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 117,891 shares of the healthcare product maker's stock worth $13,441,000 after buying an additional 381 shares during the last quarter. St. Johns Investment Management Company LLC raised its holdings in shares of Abbott Laboratories by 5.1% during the third quarter. St. Johns Investment Management Company LLC now owns 11,061 shares of the healthcare product maker's stock valued at $1,261,000 after purchasing an additional 537 shares during the last quarter. Finally, BKM Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 6.4% during the 3rd quarter. BKM Wealth Management LLC now owns 19,843 shares of the healthcare product maker's stock valued at $2,262,000 after buying an additional 1,195 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the company's 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 directly owns 220,059 shares of the company's stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective 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. Sanford C. Bernstein upped their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Edward Jones cut shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $129.67.

Abbott Laboratories Trading Down 2.0 %

Abbott Laboratories stock traded down $2.32 during midday trading on Friday, reaching $114.22. The stock had a trading volume of 5,989,611 shares, compared to its average volume of 5,724,433. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The company has a fifty day moving average of $114.63 and a 200 day moving average of $108.70. The firm has a market cap of $198.70 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data 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 13.65%. The company had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Abbott Laboratories's revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories's payout ratio is 68.54%.

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.