Inspirion Wealth Advisors LLC Sells 10,594 Shares of Abbott Laboratories (NYSE:ABT)

Inspirion Wealth Advisors LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,293 shares of the healthcare product maker’s stock after selling 10,594 shares during the quarter. Abbott Laboratories accounts for approximately 3.0% of Inspirion Wealth Advisors LLC’s portfolio, making the stock its 12th largest holding. Inspirion Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $21,809,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the 2nd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the first quarter valued at about $30,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

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

Abbott Laboratories Price Performance

ABT traded up $0.41 during trading on Friday, hitting $112.64. 4,366,288 shares of the company traded hands, compared to its average volume of 5,757,640. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company has a market cap of $195.95 billion, a PE ratio of 35.09, a P/E/G ratio of 2.86 and a beta of 0.72. The stock’s 50-day simple moving average is $112.37 and its two-hundred day simple moving average is $108.22. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.08 EPS. As a group, sell-side analysts anticipate 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. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

Several analysts have commented on ABT shares. Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday, September 26th. Piper Sandler Companies began 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 on the stock. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.33.

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.