Abbott Laboratories (NYSE:ABT) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 40.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,393 shares of the healthcare product maker's stock after selling 7,795 shares during the period. TCI Wealth Advisors Inc.'s holdings in Abbott Laboratories were worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the 2nd quarter worth $32,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.15 during mid-day trading on Monday, hitting $114.07. The stock had a trading volume of 3,989,363 shares, compared to its average volume of 5,716,647. The company has a 50 day moving average of $114.63 and a two-hundred day moving average of $108.66. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a market cap of $198.44 billion, a PE ratio of 35.67, a PEG ratio of 2.74 and a beta of 0.72.

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, topping the consensus estimate of $1.20 by $0.01. The firm 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 company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. Research 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Piper Sandler lifted their price objective 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. 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. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Raymond James reaffirmed a "buy" rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. 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.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average target price of $129.67.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.