Baxter Bros Inc. Has $220,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Baxter Bros Inc. trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 1,927 shares of the healthcare product maker’s stock after selling 100 shares during the period. Baxter Bros Inc.’s holdings in Abbott Laboratories were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $31,000. Valued Wealth Advisors LLC increased its stake in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABT shares. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Royal Bank of Canada increased their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

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 shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $118.60 on Friday. 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 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $114.93 and a 200 day simple moving average of $108.84. The stock has a market capitalization of $206.35 billion, a PE ratio of 36.05, a P/E/G ratio of 2.69 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the business earned $1.14 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

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.