Asset Advisors Investment Management LLC Sells 1,402 Shares of Abbott Laboratories (NYSE:ABT)

Asset Advisors Investment Management LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 108,490 shares of the healthcare product maker’s stock after selling 1,402 shares during the quarter. Abbott Laboratories makes up about 1.3% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 25th largest position. Asset Advisors Investment Management LLC’s holdings in Abbott Laboratories were worth $12,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Groupama Asset Managment raised its position in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $32,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the third quarter worth about $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group increased their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Performance

Shares of ABT opened at $113.87 on Friday. The company has a market cap of $197.50 billion, a PE ratio of 34.61, a P/E/G ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The stock has a 50-day moving average of $116.25 and a 200-day moving average of $111.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued 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. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s payout ratio is 66.87%.

Abbott Laboratories Company 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.