Thrivent Financial for Lutherans Sells 21,184 Shares of Abbott Laboratories (NYSE:ABT)

Thrivent Financial for Lutherans decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 458,057 shares of the healthcare product maker's stock after selling 21,184 shares during the quarter. Thrivent Financial for Lutherans' holdings in Abbott Laboratories were worth $52,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Asset Management LLC VA grew its holdings in shares of Abbott Laboratories by 14.2% in the 3rd quarter. Concord Asset Management LLC VA now owns 15,188 shares of the healthcare product maker's stock valued at $1,732,000 after acquiring an additional 1,890 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $32,000. Tower Bridge Advisors grew its holdings in shares of Abbott Laboratories by 3.7% in the 3rd quarter. Tower Bridge Advisors now owns 45,017 shares of the healthcare product maker's stock valued at $5,132,000 after acquiring an additional 1,597 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $464,000. Finally, Accredited Investors Inc. grew its holdings in shares of Abbott Laboratories by 8.3% in the 3rd quarter. Accredited Investors Inc. now owns 13,788 shares of the healthcare product maker's stock valued at $1,572,000 after acquiring an additional 1,062 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.3 %

Shares of ABT traded down $0.40 during trading hours on Tuesday, hitting $116.96. 2,158,132 shares of the stock were exchanged, compared to its average volume of 5,687,045. The firm has a market capitalization of $202.86 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a fifty-two week low of $98.95 and a fifty-two week high of $121.64. The business has a 50-day moving average of $115.55 and a 200-day moving average of $109.62.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company's revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, research analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories's dividend payout ratio is 66.87%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company'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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABT. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an "overweight" rating and a $131.00 price target for the company. Finally, Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.