Abbott Laboratories (NYSE:ABT) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,514 shares of the healthcare product maker’s stock after selling 900 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Abbott Laboratories were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. RPG Investment Advisory LLC lifted its holdings in shares of Abbott Laboratories by 113.4% during the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 203 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Abbott Laboratories by 278.4% during the 3rd quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock valued at $40,000 after acquiring an additional 270 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 159.9% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Islay Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $46,000. Finally, Arlington Partners LLC lifted its holdings in shares of Abbott Laboratories by 1,187.8% during the 2nd quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock valued at $48,000 after acquiring an additional 487 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.

NYSE ABT opened at $109.67 on Friday. Abbott Laboratories has a one year low of $61.61 and a one year high of $114.19. The company has a 50-day simple moving average of $106.58 and a 200-day simple moving average of $96.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. The firm has a market capitalization of $194.17 billion, a PE ratio of 63.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same period in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 3.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Several equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Argus lifted their price target on shares of Abbott Laboratories from $110.00 to $125.00 in a research note on Thursday, July 23rd. Citigroup lifted their price target on shares of Abbott Laboratories from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, SVB Leerink lifted their price target on shares of Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $114.44.

In other news, Director Roxanne S. Austin sold 6,844 shares of Abbott Laboratories stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $99.80, for a total value of $683,031.20. Following the completion of the transaction, the director now directly owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $107.01, for a total transaction of $3,210,300.00. Following the transaction, the executive vice president now directly owns 74,080 shares of the company’s stock, valued at $7,927,300.80. The disclosure for this sale can be found here. Insiders sold a total of 114,771 shares of company stock valued at $12,220,943 over the last ninety days. Company insiders own 1.70% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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