Mizuho Securities USA LLC Sells 21,310 Shares of Abbott Laboratories (NYSE:ABT)

Mizuho Securities USA LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 15.9% in the third quarter, HoldingsChannel reports. The firm owned 112,823 shares of the healthcare product maker’s stock after selling 21,310 shares during the quarter. Mizuho Securities USA LLC’s holdings in Abbott Laboratories were worth $12,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of Abbott Laboratories by 11.3% in the 3rd quarter. Pacer Advisors Inc. now owns 165,125 shares of the healthcare product maker’s stock worth $18,826,000 after acquiring an additional 16,812 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Abbott Laboratories by 1,302.6% in the 3rd quarter. Integrated Investment Consultants LLC now owns 114,032 shares of the healthcare product maker’s stock worth $13,001,000 after acquiring an additional 105,902 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Abbott Laboratories by 18.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,395 shares of the healthcare product maker’s stock worth $387,000 after acquiring an additional 517 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Abbott Laboratories by 4.0% in the 3rd quarter. LPL Financial LLC now owns 1,449,611 shares of the healthcare product maker’s stock worth $165,270,000 after acquiring an additional 55,188 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.0 %

Shares of ABT stock opened at $115.93 on Thursday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $115.54 and its 200-day moving average price is $109.74. The stock has a market capitalization of $201.07 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Raymond James reiterated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $130.07.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was 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 owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

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.