Front Barnett Associates LLC Sells 390 Shares of Abbott Laboratories (NYSE:ABT)

Front Barnett Associates LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,237 shares of the healthcare product maker’s stock after selling 390 shares during the period. Front Barnett Associates LLC’s holdings in Abbott Laboratories were worth $857,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Manchester Financial Inc. bought a new position in shares of Abbott Laboratories during the second quarter valued at $30,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories during the second quarter valued at $33,000. 1 North Wealth Services LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at $38,000. Marquette Asset Management LLC raised its stake in shares of Abbott Laboratories by 173.4% during the third quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after acquiring an additional 300 shares during the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at $41,000. 73.77% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Joseph J. Manning sold 47,226 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the completion of the sale, the senior vice president now directly owns 97,755 shares in the company, valued at $8,322,860.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Randel William Woodgrift sold 21,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the sale, the senior vice president now owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Shares of ABT traded up $0.35 during trading hours on Friday, hitting $83.74. 3,462,833 shares of the stock were exchanged, compared to its average volume of 5,339,424. Abbott Laboratories has a fifty-two week low of $65.44 and a fifty-two week high of $88.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12. The business has a 50-day moving average of $82.03 and a 200-day moving average of $82.26. The firm has a market capitalization of $145.61 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Abbott Laboratories’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 3.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Several research firms have recently issued reports on ABT. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Credit Suisse Group raised their price target on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Cowen raised their price target on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. BMO Capital Markets raised their price target on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Raymond James dropped their price target on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. 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. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $87.61.

Abbott Laboratories Profile

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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