Worldquant Millennium Advisors LLC Lowers Holdings in Abbott Laboratories (NYSE:ABT)

Worldquant Millennium Advisors LLC lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 25.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 713,388 shares of the healthcare product maker's stock after selling 243,385 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Abbott Laboratories were worth $81,333,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker's stock worth $1,265,762,000 after acquiring an additional 585,915 shares during the last quarter. Ameriprise Financial Inc. grew its position in Abbott Laboratories by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker's stock valued at $1,103,997,000 after acquiring an additional 508,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker's stock worth $771,940,000 after purchasing an additional 1,596,835 shares during the period. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 0.0 %

Shares of NYSE ABT traded down $0.02 during trading hours on Friday, hitting $115.57. 5,300,298 shares of the stock were exchanged, compared to its average volume of 5,643,924. The company has a market cap of $200.45 billion, a PE ratio of 35.14, a PEG ratio of 2.74 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $116.09 and a 200-day moving average price of $110.68.

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

Abbott Laboratories Announces Dividend

The business 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 1.90%. Abbott Laboratories's dividend payout ratio (DPR) is currently 66.87%.

Insider Activity 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 stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Barclays boosted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Sanford C. Bernstein lifted 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. 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. Finally, Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average 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.