Sfmg LLC Has $471,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Sfmg LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 12.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,534 shares of the healthcare product maker’s stock after selling 629 shares during the quarter. Sfmg LLC’s holdings in Abbott Laboratories were worth $471,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the first quarter valued at about $30,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.2 %

Shares of Abbott Laboratories stock opened at $113.39 on Wednesday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The stock has a market cap of $197.26 billion, a P/E ratio of 35.32, a P/E/G 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. The business’s 50 day moving average is $110.95 and its 200-day moving average is $108.36.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. 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. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Finally, Barclays boosted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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.