Keynote Financial Services LLC Has $3.10 Million Position in Abbott Laboratories (NYSE:ABT)

Keynote Financial Services LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 27,186 shares of the healthcare product maker’s stock after selling 305 shares during the quarter. Abbott Laboratories comprises 2.4% of Keynote Financial Services LLC’s holdings, making the stock its 5th biggest position. Keynote Financial Services LLC’s holdings in Abbott Laboratories were worth $3,099,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the second quarter worth $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABT shares. Jefferies Financial Group raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Finally, UBS Group increased their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $115.31 on Friday. The stock’s 50-day moving average is $115.20 and its 200 day moving average is $109.08. The stock has a market cap of $200.00 billion, a price-to-earnings ratio of 35.05, a P/E/G 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. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last posted 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. 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 for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’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 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Insider Transactions at Abbott Laboratories

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 stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

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.