Cheviot Value Management LLC Has $1.67 Million Stake in Abbott Laboratories (NYSE:ABT)

Cheviot Value Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,600 shares of the healthcare product maker’s stock after selling 508 shares during the quarter. Cheviot Value Management LLC’s holdings in Abbott Laboratories were worth $1,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC raised its holdings in Abbott Laboratories by 78.4% in 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 during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.2 %

NYSE:ABT opened at $118.77 on Monday. The firm has a fifty day simple moving average of $115.87 and a two-hundred day simple moving average of $110.43. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The stock has a market capitalization of $206.00 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.79 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Analysts expect 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 was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Morgan Stanley upped their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Jefferies Financial Group raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the company’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 sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.