Twin Lakes Capital Management LLC Sells 88 Shares of Abbott Laboratories (NYSE:ABT)

Twin Lakes Capital Management LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,774 shares of the healthcare product maker’s stock after selling 88 shares during the period. Twin Lakes Capital Management LLC’s holdings in Abbott Laboratories were worth $772,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories during the second quarter valued at $28,000. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories in the third quarter worth about $32,000. Valued Wealth Advisors LLC grew its holdings 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 valued at $33,000 after buying an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Citigroup upped their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 0.6 %

Shares of Abbott Laboratories stock opened at $114.90 on Tuesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market cap of $199.29 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.72 and a beta of 0.73. The firm’s 50-day moving average is $116.17 and its two-hundred day moving average is $110.93.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given 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 currently 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.