Abbott Laboratories $ABT Stock Sold by Community Financial Services Group LLC

Community Financial Services Group LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 96.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,860 shares of the healthcare product maker’s stock after selling 47,737 shares during the quarter. Community Financial Services Group LLC’s holdings in Abbott Laboratories were worth $180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Abbott Laboratories by 4.6% in 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 during the last quarter. State Street Corp lifted its position in shares of Abbott Laboratories by 1.7% during 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 purchasing an additional 1,350,766 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Abbott Laboratories by 0.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,887,109 shares of the healthcare product maker’s stock worth $2,241,076,000 after buying an additional 118,014 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $1,603,607,000. Finally, Deutsche Bank AG grew its holdings in Abbott Laboratories by 18.6% during the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock worth $1,515,963,000 after acquiring an additional 2,614,965 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABT shares. Wells Fargo & Company upped their price target on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Barclays began coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They set an “overweight” rating and a $120.00 price target on the stock. Citigroup increased their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. UBS Group cut their price target on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Finally, Robert W. Baird started coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.88.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $104.79 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The stock has a market cap of $181.33 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59. Abbott Laboratories has a one year low of $81.97 and a one year high of $132.02. The business’s fifty day moving average price is $105.97 and its two-hundred day moving average price is $98.26.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same quarter last year, the business earned $1.26 earnings per share. Abbott Laboratories’s revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

Abbott Laboratories Company Profile

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.