Ironwood Financial llc Sells 133 Shares of Abbott Laboratories (NYSE:ABT)

Ironwood Financial llc lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,737 shares of the healthcare product maker’s stock after selling 133 shares during the quarter. Ironwood Financial llc’s holdings in Abbott Laboratories were worth $312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the second quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

Abbott Laboratories stock traded down $0.15 during trading hours on Thursday, reaching $117.67. The stock had a trading volume of 245,349 shares, compared to its average volume of 5,702,921. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The company has a market cap of $204.70 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The business’s 50 day moving average price is $113.60 and its 200-day moving average price is $108.40.

Abbott Laboratories (NYSE:ABT) last posted its 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. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% 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 prior year, the company posted $1.14 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent analyst reports. Raymond James reissued a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday. Oppenheimer initiated coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.71.

Abbott Laboratories Company 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.