Abbott Laboratories (NYSE:ABT) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 49,085 shares of the healthcare product maker’s stock after selling 494 shares during the period. Icon Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $5,596,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the second quarter valued at about $32,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.8 %

ABT stock opened at $118.95 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market cap of $206.31 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.78 and a beta of 0.72. 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 business has a fifty day simple moving average of $115.76 and a 200-day simple moving average of $110.25.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the business posted $1.14 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 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 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABT. Raymond James reiterated a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Piper Sandler lifted their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays upped their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $130.07.

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.