Abbott Laboratories (NYSE:ABT) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. reduced its position in Abbott Laboratories (NYSE:ABT) by 28.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,147 shares of the healthcare product maker’s stock after selling 4,118 shares during the period. Gold Investment Management Ltd.’s holdings in Abbott Laboratories were worth $1,150,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Stiles Financial Services Inc grew its position in shares of Abbott Laboratories by 2.3% in the third quarter. Stiles Financial Services Inc now owns 25,240 shares of the healthcare product maker’s stock valued at $2,878,000 after purchasing an additional 560 shares during the last quarter. AIA Group Ltd grew its holdings in Abbott Laboratories by 0.5% during the 3rd quarter. AIA Group Ltd now owns 44,606 shares of the healthcare product maker’s stock valued at $5,086,000 after buying an additional 231 shares during the last quarter. Summit Global Investments increased its position in Abbott Laboratories by 13.4% during the third quarter. Summit Global Investments now owns 4,103 shares of the healthcare product maker’s stock worth $468,000 after buying an additional 486 shares in the last quarter. First National Bank & Trust Co. of Newtown lifted its position in shares of Abbott Laboratories by 2.7% in the third quarter. First National Bank & Trust Co. of Newtown now owns 12,898 shares of the healthcare product maker’s stock valued at $1,470,000 after acquiring an additional 337 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its stake in shares of Abbott Laboratories by 8.7% during the third quarter. Hudson Value Partners LLC now owns 12,313 shares of the healthcare product maker’s stock valued at $1,404,000 after acquiring an additional 989 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.3 %

Shares of NYSE ABT traded up $0.35 during mid-day trading on Friday, hitting $115.65. 118,916 shares of the company traded hands, compared to its average volume of 5,690,435. The business has a 50 day moving average of $115.20 and a two-hundred day moving average of $109.08. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $200.59 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a 1 year low of $92.43 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Company 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.