Aevitas Wealth Management Inc. Has $314,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Aevitas Wealth Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 6.2% during the third quarter, HoldingsChannel reports. The firm owned 3,751 shares of the healthcare product maker’s stock after selling 249 shares during the quarter. Aevitas Wealth Management Inc.’s holdings in Abbott Laboratories were worth $314,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bath Savings Trust Co boosted its stake in Abbott Laboratories by 2.7% in the second quarter. Bath Savings Trust Co now owns 52,679 shares of the healthcare product maker’s stock worth $4,430,000 after purchasing an additional 1,375 shares in the last quarter. Cox Capital Mgt LLC increased its holdings in Abbott Laboratories by 5.0% in the second quarter. Cox Capital Mgt LLC now owns 20,915 shares of the healthcare product maker’s stock valued at $1,759,000 after purchasing an additional 1,002 shares during the last quarter. Thomasville National Bank increased its holdings in Abbott Laboratories by 1.6% in the second quarter. Thomasville National Bank now owns 28,673 shares of the healthcare product maker’s stock valued at $2,411,000 after purchasing an additional 455 shares during the last quarter. Private Trust Co. NA increased its holdings in Abbott Laboratories by 7.0% in the second quarter. Private Trust Co. NA now owns 36,943 shares of the healthcare product maker’s stock valued at $3,106,000 after purchasing an additional 2,411 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its holdings in Abbott Laboratories by 1.2% in the second quarter. LVM Capital Management Ltd. MI now owns 31,146 shares of the healthcare product maker’s stock valued at $2,619,000 after purchasing an additional 373 shares during the last quarter. 73.78% of the stock is currently owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randel William Woodgrift sold 65,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total value of $5,720,650.00. Following the completion of the transaction, the insider now directly owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,497 shares of company stock valued at $15,701,810. Insiders own 0.70% of the company’s stock.

NYSE:ABT traded down $0.79 on Monday, reaching $82.00. The company’s stock had a trading volume of 584,114 shares, compared to its average volume of 4,715,459. Abbott Laboratories has a 1-year low of $65.44 and a 1-year high of $88.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The firm has a market cap of $145.60 billion, a PE ratio of 28.47, a PEG ratio of 2.31 and a beta of 1.13. The business’s 50-day moving average price is $82.87 and its two-hundred day moving average price is $81.76.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Abbott Laboratories will post 3.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.56%. Abbott Laboratories’s payout ratio is 44.44%.

ABT has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price objective on Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday. Cowen upped their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Raymond James dropped their price objective on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a report on Thursday. Finally, Jefferies Financial Group upped their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $87.61.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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