Northwest Quadrant Wealth Management LLC Sells 109 Shares of Abbott Laboratories (NYSE:ABT)

Northwest Quadrant Wealth Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,224 shares of the healthcare product maker’s stock after selling 109 shares during the period. Northwest Quadrant Wealth Management LLC’s holdings in Abbott Laboratories were worth $254,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABT. Vanguard Group Inc. lifted its position in shares of 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 valued at $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $16,764,000. Garde Capital Inc. boosted its position in shares of Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock worth $205,000 after purchasing an additional 262 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Abbott Laboratories by 0.9% during the 4th 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 during the last quarter. Finally, BDF Gestion acquired a new stake in Abbott Laboratories in the second quarter worth about $7,651,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.41 during trading hours on Friday, hitting $112.64. 4,366,288 shares of the company’s stock were exchanged, compared to its average volume of 5,757,640. 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 firm has a 50 day moving average of $112.37 and a two-hundred day moving average of $108.22. The firm has a market cap of $195.95 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the business posted $1.08 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. Barclays increased 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. Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research 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 note on Thursday, September 26th. Evercore ISI lifted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.33.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

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.