Saturna Capital Corp Decreases Position in Abbott Laboratories (NYSE:ABT)

Saturna Capital Corp decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,071 shares of the healthcare product maker's stock after selling 13,033 shares during the quarter. Saturna Capital Corp's holdings in Abbott Laboratories were worth $44,928,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after buying an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABT. Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an "overweight" rating and a $131.00 target price on the stock. UBS Group increased their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. 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 note on Monday, October 14th. Finally, Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $130.07.

Abbott Laboratories Trading Down 0.6 %

Shares of ABT stock traded down $0.70 on Wednesday, hitting $115.74. The stock had a trading volume of 4,719,871 shares, compared to its average volume of 5,704,782. 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 capitalization of $200.75 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.74 and a beta of 0.72. The company's 50 day moving average price is $115.43 and its 200-day moving average price is $109.35. 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 announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share 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 firm 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 posted $1.14 earnings per share. The business's quarterly revenue was up 4.9% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current 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 issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.90%. Abbott Laboratories's dividend payout ratio (DPR) is 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.