Brooklyn Investment Group Sells 726 Shares of Abbott Laboratories (NYSE:ABT)

Brooklyn Investment Group decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,956 shares of the healthcare product maker’s stock after selling 726 shares during the quarter. Brooklyn Investment Group’s holdings in Abbott Laboratories were worth $1,363,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. BDF Gestion bought a new stake in Abbott Laboratories in the second quarter worth approximately $7,651,000. Simplify Asset Management Inc. lifted its position in shares of Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the period. Dundas Partners LLP boosted its stake in Abbott Laboratories by 2.1% during the second quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after acquiring an additional 6,897 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares in the last quarter. Finally, MONECO Advisors LLC boosted its position in shares of Abbott Laboratories by 110.1% during the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock worth $3,551,000 after purchasing an additional 16,325 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.1 %

Shares of NYSE ABT opened at $118.28 on Tuesday. The firm’s fifty day moving average is $115.59 and its 200 day moving average is $110.04. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The company has a market cap of $205.15 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.77 and a beta of 0.72. 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 released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share 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 analysts’ expectations of $10.55 billion. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. On average, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Insider Activity

In related 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 sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ABT shares. UBS Group lifted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

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.