Lavaca Capital LLC Has $389,000 Holdings in Abbott Laboratories (NYSE:ABT)

Lavaca Capital LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 42.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,739 shares of the healthcare product maker’s stock after selling 2,793 shares during the quarter. Lavaca Capital LLC’s holdings in Abbott Laboratories were worth $389,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after buying an additional 7,527,778 shares in the last quarter. Capital International Investors raised its stake in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $341,777,000. Finally, Assenagon Asset Management S.A. increased its holdings in Abbott Laboratories by 493.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4 %

Shares of Abbott Laboratories stock opened at $113.70 on Friday. The business has a fifty day simple moving average of $110.50 and a 200 day simple moving average of $108.53. The stock 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. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

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

Abbott Laboratories Dividend Announcement

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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Citigroup increased their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research note on Thursday. They issued an “overweight” rating and a $131.00 target price for the company. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

About Abbott Laboratories

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.