Abbott Laboratories (NYSE:ABT) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 41.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,324 shares of the healthcare product maker's stock after selling 26,308 shares during the period. Prime Capital Investment Advisors LLC's holdings in Abbott Laboratories were worth $4,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hemenway Trust Co LLC increased its stake in Abbott Laboratories by 1.2% during the 3rd quarter. Hemenway Trust Co LLC now owns 349,606 shares of the healthcare product maker's stock worth $39,859,000 after buying an additional 4,289 shares in the last quarter. Savvy Advisors Inc. grew its position in shares of Abbott Laboratories by 40.7% in the third quarter. Savvy Advisors Inc. now owns 8,606 shares of the healthcare product maker's stock valued at $981,000 after purchasing an additional 2,488 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Abbott Laboratories by 1.1% in the third quarter. Ashton Thomas Private Wealth LLC now owns 41,498 shares of the healthcare product maker's stock valued at $4,731,000 after purchasing an additional 441 shares in the last quarter. Proactive Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $2,176,000. Finally, Verus Capital Partners LLC grew its position in shares of Abbott Laboratories by 7.5% in the third quarter. Verus Capital Partners LLC now owns 5,705 shares of the healthcare product maker's stock valued at $650,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABT. UBS Group upped their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report 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. Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and an average target price of $130.07.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.70 during midday trading on Wednesday, reaching $115.74. 4,719,871 shares of the company traded hands, compared to its average volume of 5,704,782. The firm's 50 day simple moving average is $115.43 and its two-hundred day simple moving average is $109.35. Abbott Laboratories has a 1-year low of $96.20 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap 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 (NYSE:ABT - Get Free Report) last posted its quarterly earnings results 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 net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm earned $1.14 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on 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 approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.