Fidelis Capital Partners LLC Has $1.80 Million Position in Abbott Laboratories (NYSE:ABT)

Fidelis Capital Partners LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,383 shares of the healthcare product maker’s stock after selling 1,340 shares during the period. Fidelis Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Gilbert & Cook Inc. boosted its position in shares of Abbott Laboratories by 17.4% during the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock valued at $832,000 after buying an additional 1,120 shares during the last quarter. Accretive Wealth Partners LLC lifted its stake in Abbott Laboratories by 1.2% during the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after acquiring an additional 152 shares in the last quarter. Aveo Capital Partners LLC grew its stake in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after acquiring an additional 413 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Abbott Laboratories by 3.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the healthcare product maker’s stock valued at $12,252,000 after purchasing an additional 3,767 shares during the last quarter. Finally, TrinityPoint Wealth LLC lifted its position in shares of Abbott Laboratories by 1.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the healthcare product maker’s stock valued at $2,339,000 after purchasing an additional 376 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT opened at $113.70 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market cap of $197.80 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The firm’s 50-day simple moving average is $110.50 and its two-hundred day simple moving average is $108.53.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the company posted $1.08 EPS. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler assumed coverage on Abbott Laboratories in a research report on Thursday. They issued an “overweight” rating and a $131.00 price objective on the stock. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

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.