Dynamic Advisor Solutions LLC Sells 1,586 Shares of Abbott Laboratories (NYSE:ABT)

Dynamic Advisor Solutions LLC cut its position in Abbott Laboratories (NYSE:ABT) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,520 shares of the healthcare product maker’s stock after selling 1,586 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Abbott Laboratories were worth $3,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after acquiring an additional 701,740 shares during the period. Sanibel Captiva Trust Company Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $16,764,000. Garde Capital Inc. raised its position in shares of Abbott Laboratories by 16.4% in the fourth quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after buying an additional 262 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Abbott Laboratories by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock worth $98,490,000 after buying an additional 8,224 shares in the last quarter. Finally, BDF Gestion bought a new position in Abbott Laboratories during the 2nd quarter worth $7,651,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ABT shares. Barclays raised their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup upped their price target 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. Jefferies Financial Group reiterated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research report on Thursday, September 26th. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.15.

Abbott Laboratories Price Performance

Shares of ABT opened at $114.61 on Wednesday. The business has a 50-day simple moving average of $112.54 and a two-hundred day simple moving average of $108.18. 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 $199.38 billion, a PE ratio of 35.70, a PEG ratio of 2.86 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 (NYSE:ABT) last posted its 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. 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 earned $1.08 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 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.