DekaBank Deutsche Girozentrale Sells 80,738 Shares of Abbott Laboratories (NYSE:ABT)

DekaBank Deutsche Girozentrale decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,543,279 shares of the healthcare product maker's stock after selling 80,738 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.15% of Abbott Laboratories worth $285,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Boltwood Capital Management boosted its position in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker's stock valued at $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Abbott Laboratories by 2.9% in the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker's stock worth $359,000 after acquiring an additional 89 shares in the last quarter. Atwood & Palmer Inc. boosted its holdings in Abbott Laboratories by 6.5% in the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker's stock worth $169,000 after acquiring an additional 90 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Abbott Laboratories by 2.3% in the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker's stock worth $461,000 after acquiring an additional 91 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its holdings in Abbott Laboratories by 0.8% in the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker's stock worth $1,160,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ABT shares. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an "overweight" rating and a $131.00 target price on the stock. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Piper Sandler boosted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Edward Jones cut Abbott Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.67.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $2.32 during mid-day trading on Friday, reaching $114.22. 5,989,611 shares of the stock traded hands, compared to its average volume of 5,724,433. The stock has a market capitalization of $198.70 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64. The business's 50-day moving average is $114.63 and its 200-day moving average is $108.66.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 analysts' expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company's stock in a transaction dated 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 in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

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.