Capital Investment Services of America Inc. Sells 405 Shares of Abbott Laboratories (NYSE:ABT)

Capital Investment Services of America Inc. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the healthcare product maker’s stock after selling 405 shares during the period. Capital Investment Services of America Inc.’s holdings in Abbott Laboratories were worth $351,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Financial Counselors Inc. grew its stake in Abbott Laboratories by 1.6% in the first quarter. Financial Counselors Inc. now owns 53,804 shares of the healthcare product maker’s stock worth $6,115,000 after purchasing an additional 844 shares during the period. Mutual Advisors LLC increased its stake in shares of Abbott Laboratories by 7.6% in the 1st quarter. Mutual Advisors LLC now owns 25,662 shares of the healthcare product maker’s stock worth $2,917,000 after acquiring an additional 1,809 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Abbott Laboratories during the 1st quarter valued at about $404,000. Comprehensive Financial Consultants Institutional Inc. boosted its stake in Abbott Laboratories by 3.2% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,517 shares of the healthcare product maker’s stock worth $1,195,000 after acquiring an additional 330 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Abbott Laboratories by 2.8% during the first quarter. Proficio Capital Partners LLC now owns 7,879 shares of the healthcare product maker’s stock valued at $896,000 after purchasing an additional 213 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.52 during trading hours on Monday, hitting $118.08. The stock had a trading volume of 2,007,547 shares, compared to its average volume of 5,710,210. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market capitalization of $205.45 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.67 and a beta of 0.72. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The stock’s 50-day moving average price is $114.93 and its two-hundred day moving average price is $108.86.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. Equities analysts forecast 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 will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Analyst Ratings Changes

Several research firms have recently issued reports on ABT. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.67.

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.