Martingale Asset Management L P Has $33.23 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Martingale Asset Management L P decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,419 shares of the healthcare product maker’s stock after selling 52,620 shares during the quarter. Abbott Laboratories makes up 0.8% of Martingale Asset Management L P’s holdings, making the stock its 29th biggest position. Martingale Asset Management L P’s holdings in Abbott Laboratories were worth $33,225,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories in the second quarter worth $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the third quarter valued at about $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter valued at about $32,000. Valued Wealth Advisors LLC grew its position in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was 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 owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

NYSE ABT opened at $118.95 on Friday. The company has a market cap of $206.31 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 2.78 and a beta of 0.72. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The business has a 50 day moving average price of $115.76 and a 200-day moving average price of $110.25. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date was 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 presently 66.87%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABT. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.