Xponance Inc. Has $24.89 Million Position in Abbott Laboratories (NYSE:ABT)

Xponance Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 239,511 shares of the healthcare product maker’s stock after selling 11,115 shares during the quarter. Xponance Inc.’s holdings in Abbott Laboratories were worth $24,888,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Evercore ISI dropped their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Finally, Barclays upped their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.33.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $113.70 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a market capitalization of $197.80 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.90 and a beta of 0.72. The business’s 50-day moving average price is $110.50 and its two-hundred day moving average price is $108.45.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share 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 business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period last year, the company posted $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 4.66 earnings per share 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%.

Abbott Laboratories Company 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.