Abbott Laboratories $ABT Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 19.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,891 shares of the healthcare product maker’s stock after selling 8,197 shares during the quarter. DMKC Advisory Services LLC’s holdings in Abbott Laboratories were worth $3,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Abbott Laboratories by 4.6% during the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after purchasing an additional 6,769,518 shares in the last quarter. State Street Corp raised its holdings in shares of Abbott Laboratories by 1.7% in the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after buying an additional 1,350,766 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Abbott Laboratories in the second quarter worth $1,603,607,000. Deutsche Bank AG lifted its stake in shares of Abbott Laboratories by 18.6% during the second quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock worth $1,515,963,000 after buying an additional 2,614,965 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Abbott Laboratories during the second quarter worth $1,082,524,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BTIG Research dropped their price objective on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Piper Sandler restated an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Weiss Ratings raised Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Argus cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Wells Fargo & Company boosted their price target on Abbott Laboratories from $112.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.32.

Abbott Laboratories Stock Performance

ABT opened at $110.41 on Tuesday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $191.04 billion, a PE ratio of 41.20, a P/E/G ratio of 2.02 and a beta of 0.54. The firm has a 50 day moving average of $103.99 and a two-hundred day moving average of $101.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting the consensus estimate of $1.42. The business had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. On average, analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 94.03%.

Insider Transactions at Abbott Laboratories

In related news, EVP Mary Moreland sold 3,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total transaction of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares in the company, valued at $11,691,756. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.