Abbott Laboratories $ABT Shares Sold by StrongBox Wealth LLC

StrongBox Wealth LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 34.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,847 shares of the healthcare product maker’s stock after selling 7,125 shares during the period. StrongBox Wealth LLC’s holdings in Abbott Laboratories were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ABT. Bank of America Corp DE purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at $1,603,607,000. Legal & General Group Plc bought a new position in shares of Abbott Laboratories during the 2nd quarter worth $1,082,524,000. Flossbach Von Storch SE purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $902,938,000. Jupiter Topco LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $732,788,000. Finally, BlackRock Inc. increased its holdings in Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after acquiring an additional 6,769,518 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $119.00 to $127.00 in a research note on Friday, October 2nd. Barclays began coverage on shares of Abbott Laboratories in a research report on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 price target on the stock. Finally, Argus lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.32.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $113.43 on Friday. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The business has a fifty day moving average price of $104.06 and a 200-day moving average price of $101.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a market capitalization of $196.28 billion, a P/E ratio of 42.33, a PEG ratio of 2.02 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting the consensus estimate of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The company had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.2%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 94.03%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.