Abbott Laboratories (NYSE:ABT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,472 shares of the healthcare product maker's stock after selling 7,320 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Abbott Laboratories were worth $28,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GHE LLC increased its stake in Abbott Laboratories by 14.8% during the 3rd quarter. GHE LLC now owns 14,472 shares of the healthcare product maker's stock valued at $1,650,000 after purchasing an additional 1,871 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in shares of Abbott Laboratories by 6.4% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 51,094 shares of the healthcare product maker's stock valued at $5,825,000 after acquiring an additional 3,090 shares during the period. Empower Advisory Group LLC raised its stake in Abbott Laboratories by 0.3% in the 3rd quarter. Empower Advisory Group LLC now owns 907,849 shares of the healthcare product maker's stock worth $103,504,000 after acquiring an additional 2,662 shares during the last quarter. Dillon & Associates Inc. boosted its position in Abbott Laboratories by 2.1% in the third quarter. Dillon & Associates Inc. now owns 210,347 shares of the healthcare product maker's stock valued at $23,980,000 after buying an additional 4,364 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its position in Abbott Laboratories by 21.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 129,531 shares of the healthcare product maker's stock worth $14,768,000 after buying an additional 23,201 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on 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 sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Abbott Laboratories Trading Down 0.6 %

Abbott Laboratories stock traded down $0.70 during mid-day trading on Wednesday, hitting $115.74. The company's stock had a trading volume of 4,719,871 shares, compared to its average volume of 5,704,782. The stock's fifty day moving average is $115.43 and its two-hundred day moving average is $109.35. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $200.75 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1 year low of $96.20 and a 1 year high of $121.64.

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 for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same quarter last year, the company posted $1.14 EPS. The firm's quarterly revenue was up 4.9% on a year-over-year basis. On average, 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 will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories's dividend payout ratio (DPR) is presently 66.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABT. Barclays upped their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. UBS Group raised their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Piper Sandler increased their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price objective for the company. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company 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.