Beaird Harris Wealth Management LLC Sells 171 Shares of Abbott Laboratories (NYSE:ABT)

Beaird Harris Wealth Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 19.8% in the 3rd quarter, Holdings Channel reports. The firm owned 692 shares of the healthcare product maker’s stock after selling 171 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Abbott Laboratories were worth $79,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after purchasing an additional 488,764 shares during the period. Wellington Management Group LLP grew its stake in Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after buying an additional 585,915 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 0.4 %

Shares of Abbott Laboratories stock opened at $113.39 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm’s 50 day simple moving average is $116.27 and its two-hundred day simple moving average is $111.12. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $196.67 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (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 analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 66.87%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABT. Mizuho raised their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada upped their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein boosted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.71.

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.