Cheviot Value Management LLC Sells 508 Shares of Abbott Laboratories (NYSE:ABT)

Cheviot Value Management LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,600 shares of the healthcare product maker’s stock after selling 508 shares during the period. Cheviot Value Management LLC’s holdings in Abbott Laboratories were worth $1,665,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ABT. Insight Folios Inc boosted its position in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 87 shares during the last quarter. Boltwood Capital Management raised its stake in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after purchasing an additional 89 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after buying an additional 89 shares during the last quarter. Silicon Valley Capital Partners grew its stake in shares of Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after buying an additional 89 shares in the last quarter. Finally, Atwood & Palmer Inc. increased its holdings in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.2 %

ABT stock opened at $118.77 on Monday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market capitalization of $206.00 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72. The company’s 50-day simple moving average is $115.87 and its 200 day simple moving average is $110.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

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, 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 for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. 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 dividend payout ratio (DPR) is currently 66.87%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Raymond James reiterated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, UBS Group increased their price target on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company 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.