Abbott Laboratories (NYSE:ABT) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,393 shares of the healthcare product maker’s stock after selling 2,401 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $7,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. KPP Advisory Services LLC grew its stake in Abbott Laboratories by 10.6% during the 2nd quarter. KPP Advisory Services LLC now owns 7,982 shares of the healthcare product maker’s stock valued at $829,000 after acquiring an additional 768 shares in the last quarter. New Century Financial Group LLC grew its position in Abbott Laboratories by 152.0% during the second quarter. New Century Financial Group LLC now owns 4,836 shares of the healthcare product maker’s stock valued at $502,000 after purchasing an additional 2,917 shares in the last quarter. Founders Financial Alliance LLC increased its stake in Abbott Laboratories by 11.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,555 shares of the healthcare product maker’s stock valued at $473,000 after buying an additional 467 shares during the period. Orleans Capital Management Corp LA lifted its position in Abbott Laboratories by 0.4% in the 2nd quarter. Orleans Capital Management Corp LA now owns 24,055 shares of the healthcare product maker’s stock worth $2,500,000 after buying an additional 100 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $783,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABT. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $124.33.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT opened at $113.58 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock’s 50-day moving average is $111.97 and its 200-day moving average is $108.15. The company has a market cap of $197.59 billion, a P/E ratio of 35.38, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued 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 company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. Equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

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.