Abbott Laboratories (NYSE:ABT) Stake Trimmed by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,169 shares of the healthcare product maker’s stock after selling 1,878 shares during the quarter. Abbott Laboratories makes up approximately 1.3% of Chesley Taft & Associates LLC’s portfolio, making the stock its 21st largest position. Chesley Taft & Associates LLC’s holdings in Abbott Laboratories were worth $26,926,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ABT. Boltwood Capital Management boosted its stake in Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares in the last quarter. Atwood & Palmer Inc. raised its holdings in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after buying an additional 90 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in Abbott Laboratories by 2.3% during the third quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock worth $461,000 after buying an additional 91 shares during the last quarter. Hanson & Doremus Investment Management raised its holdings in Abbott Laboratories by 0.8% during the second quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after buying an additional 92 shares during the last quarter. Finally, Encompass More Asset Management raised its holdings in shares of Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after purchasing an additional 96 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.6 %

ABT stock opened at $113.35 on Tuesday. The company has a market capitalization of $197.19 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company’s 50 day moving average price is $112.37 and its two-hundred day moving average price is $108.16. 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 (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate 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 was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. As a group, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and set a $120.00 target price on shares of Abbott Laboratories in a research report on Thursday, September 26th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Barclays raised their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company 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 company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $124.77.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.

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.