Bard Financial Services Inc. Sells 5,800 Shares of Abbott Laboratories (NYSE:ABT)

Bard Financial Services Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,135 shares of the healthcare product maker’s stock after selling 5,800 shares during the quarter. Bard Financial Services Inc.’s holdings in Abbott Laboratories were worth $6,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Old West Investment Management LLC lifted its holdings in shares of Abbott Laboratories by 21.2% during the 3rd quarter. Old West Investment Management LLC now owns 22,997 shares of the healthcare product maker’s stock valued at $2,622,000 after buying an additional 4,021 shares during the period. Second Line Capital LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at $278,000. Soltis Investment Advisors LLC lifted its holdings in shares of Abbott Laboratories by 6.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 9,155 shares of the healthcare product maker’s stock valued at $1,044,000 after buying an additional 576 shares during the period. TD Private Client Wealth LLC raised its holdings in Abbott Laboratories by 4.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 38,695 shares of the healthcare product maker’s stock worth $4,412,000 after purchasing an additional 1,664 shares during the period. Finally, Fortem Financial Group LLC raised its holdings in Abbott Laboratories by 3.1% in the 3rd quarter. Fortem Financial Group LLC now owns 7,994 shares of the healthcare product maker’s stock worth $911,000 after purchasing an additional 240 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.0 %

Shares of Abbott Laboratories stock opened at $115.48 on Wednesday. The firm has a market cap of $200.29 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.72 and a beta of 0.73. The business has a 50-day moving average price of $116.17 and a 200-day moving average price of $110.93. 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 has a twelve month low of $99.71 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Sanford C. Bernstein raised their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Mizuho increased their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group increased 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

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.