Abbott Laboratories $ABT Stock Sold by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 23.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,018 shares of the healthcare product maker’s stock after selling 5,679 shares during the period. Tred Avon Family Wealth LLC’s holdings in Abbott Laboratories were worth $1,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Parkway Wealth Management Group LLC grew its position in Abbott Laboratories by 3.2% during the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after buying an additional 98 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Abbott Laboratories by 2.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 255,880 shares of the healthcare product maker’s stock valued at $25,289,000 after acquiring an additional 6,425 shares during the period. Jeppson Wealth Management LLC increased its stake in Abbott Laboratories by 4.0% during the third quarter. Jeppson Wealth Management LLC now owns 15,382 shares of the healthcare product maker’s stock valued at $1,520,000 after acquiring an additional 589 shares during the period. CFS Investment Advisory Services LLC raised its holdings in Abbott Laboratories by 7.4% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 17,930 shares of the healthcare product maker’s stock valued at $1,760,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Warwick Investment Management Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $215,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $104.14 on Tuesday. The stock has a market capitalization of $180.19 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.94 and a beta of 0.59. The firm’s 50-day moving average price is $105.82 and its two-hundred day moving average price is $98.30. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 81.55%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. BTIG Research upped their target price on Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 17th. UBS Group cut their target price 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.88.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.