Simplicity Wealth LLC trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 76.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,632 shares of the healthcare product maker's stock after selling 42,107 shares during the quarter. Simplicity Wealth LLC's holdings in Abbott Laboratories were worth $1,440,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the second quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $30,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the third quarter worth about $31,000. Institutional investors and hedge funds own 75.18% of the company's stock.
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 transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
NYSE:ABT opened at $116.12 on Friday. The stock has a 50 day moving average price of $113.13 and a 200 day moving average price of $108.33. The stock has a market cap of $202.01 billion, a PE ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.
Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to analysts' expectations of $10.37 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The company's revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.89%. Abbott Laboratories's payout ratio is 68.54%.
A number of research firms have weighed in on ABT. Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Royal Bank of Canada increased their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Jefferies Financial Group restated a "hold" rating and issued a $120.00 price objective on shares of Abbott Laboratories in a research report on Thursday, September 26th. Edward Jones cut shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, July 30th. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $125.15.
View Our Latest Research Report on ABT
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.
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