Abbott Laboratories (NYSE:ABT) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. lowered its position in Abbott Laboratories (NYSE:ABTFree Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,135 shares of the healthcare product maker’s stock after selling 1,000 shares during the quarter. Bard Financial Services Inc.’s holdings in Abbott Laboratories were worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Simplify Asset Management Inc. increased its stake in shares of Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the period. Dundas Partners LLP raised its holdings in shares of Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock valued at $34,313,000 after acquiring an additional 6,897 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares in the last quarter. Tidal Investments LLC grew its stake in Abbott Laboratories by 30.5% during the 3rd quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock valued at $12,234,000 after acquiring an additional 25,052 shares in the last quarter. Finally, MONECO Advisors LLC increased its stake in Abbott Laboratories by 110.1% in the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after buying an additional 16,325 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $0.17 during mid-day trading on Monday, reaching $114.00. The company’s stock had a trading volume of 1,816,840 shares, compared to its average volume of 3,242,228. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm’s 50-day moving average is $115.47 and its two-hundred day moving average is $112.27. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The company has a market cap of $197.73 billion, a P/E ratio of 34.65, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping 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 firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley raised their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.57.

Check Out Our Latest Stock Analysis on ABT

Abbott Laboratories Company Profile

(Free Report)

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.

Further Reading

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

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