Oxbow Advisors LLC Sells 105 Shares of Abbott Laboratories (NYSE:ABT)

Oxbow Advisors LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,647 shares of the healthcare product maker’s stock after selling 105 shares during the quarter. Oxbow Advisors LLC’s holdings in Abbott Laboratories were worth $986,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the second quarter worth $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 purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $37,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $1.29 during mid-day trading on Friday, hitting $116.59. 5,685,893 shares of the stock were exchanged, compared to its average volume of 5,716,088. The firm’s 50-day simple moving average is $115.32 and its 200 day simple moving average is $109.19. The stock has a market capitalization of $202.22 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced 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. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Raymond James reissued a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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 Abbott Laboratories 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate 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.