Koshinski Asset Management Inc. Sells 369 Shares of Abbott Laboratories (NYSE:ABT)

Koshinski Asset Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,535 shares of the healthcare product maker’s stock after selling 369 shares during the period. Koshinski Asset Management Inc.’s holdings in Abbott Laboratories were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors grew its holdings in Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Swedbank AB purchased a new stake in Abbott Laboratories in the first quarter worth about $341,777,000. Sessa Capital IM L.P. bought a new position in shares of Abbott Laboratories in the second quarter worth about $264,876,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Abbott Laboratories by 493.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after acquiring an additional 1,996,320 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.50 during midday trading on Friday, reaching $116.12. 3,471,291 shares of the stock traded hands, compared to its average volume of 5,728,511. The company’s 50 day moving average is $113.13 and its 200 day moving average is $108.33. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock has a market capitalization of $202.01 billion, a PE ratio of 36.17, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the company posted $1.08 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on 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 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Oppenheimer started coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $125.15.

Abbott Laboratories Profile

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.