Moody Lynn & Lieberson LLC Sells 2,995 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Moody Lynn & Lieberson LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,111 shares of the healthcare product maker’s stock after selling 2,995 shares during the period. Abbott Laboratories makes up about 1.7% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 19th largest holding. Moody Lynn & Lieberson LLC’s holdings in Abbott Laboratories were worth $26,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. West Michigan Advisors LLC lifted its holdings in shares of Abbott Laboratories by 1.5% during the 3rd quarter. West Michigan Advisors LLC now owns 9,680 shares of the healthcare product maker’s stock worth $1,104,000 after acquiring an additional 145 shares during the period. Nicholson Wealth Management Group LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $814,000. DT Investment Partners LLC lifted its holdings in shares of Abbott Laboratories by 1.2% during the 3rd quarter. DT Investment Partners LLC now owns 26,945 shares of the healthcare product maker’s stock worth $3,072,000 after acquiring an additional 320 shares during the period. Peoples Bank OH lifted its holdings in shares of Abbott Laboratories by 3.0% during the 3rd quarter. Peoples Bank OH now owns 4,013 shares of the healthcare product maker’s stock worth $458,000 after acquiring an additional 115 shares during the period. Finally, Pinnacle West Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 1.3% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 8,285 shares of the healthcare product maker’s stock worth $945,000 after acquiring an additional 105 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABT. Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Mizuho upped their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

View Our Latest Analysis on ABT

Abbott Laboratories Trading Down 0.4 %

ABT opened at $116.54 on Friday. Abbott Laboratories has a twelve month low of $91.64 and a twelve month high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $114.46 and a 200-day moving average of $108.62. The stock has a market cap of $202.74 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

About Abbott Laboratories

(Free Report)

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.

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