Robeco Institutional Asset Management B.V. Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Robeco Institutional Asset Management B.V. cut its holdings in Abbott Laboratories (NYSE:ABT) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,189 shares of the healthcare product maker’s stock after selling 9,052 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Abbott Laboratories were worth $30,234,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ABT. Central Pacific Bank Trust Division purchased a new stake in Abbott Laboratories in the 1st quarter valued at approximately $404,000. Csenge Advisory Group boosted its stake in shares of Abbott Laboratories by 6.7% during the first quarter. Csenge Advisory Group now owns 18,731 shares of the healthcare product maker’s stock valued at $2,129,000 after acquiring an additional 1,182 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Abbott Laboratories by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 9,877 shares of the healthcare product maker’s stock worth $1,123,000 after purchasing an additional 159 shares in the last quarter. Hemenway Trust Co LLC lifted its holdings in Abbott Laboratories by 2.5% in the 1st quarter. Hemenway Trust Co LLC now owns 342,963 shares of the healthcare product maker’s stock valued at $38,981,000 after purchasing an additional 8,477 shares in the last quarter. Finally, Broderick Brian C boosted its stake in shares of Abbott Laboratories by 7.3% during the 1st quarter. Broderick Brian C now owns 108,284 shares of the healthcare product maker’s stock worth $12,308,000 after purchasing an additional 7,360 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.0 %

Shares of Abbott Laboratories stock opened at $117.69 on Wednesday. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The stock has a market cap of $204.13 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $115.13 and a 200 day moving average price of $109.02.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABT. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.