Jmac Enterprises LLC Sells 1,498 Shares of Abbott Laboratories (NYSE:ABT)

Jmac Enterprises LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 21.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,481 shares of the healthcare product maker’s stock after selling 1,498 shares during the period. Jmac Enterprises LLC’s holdings in Abbott Laboratories were worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Deseret Mutual Benefit Administrators grew its stake in shares of Abbott Laboratories by 5.6% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,827 shares of the healthcare product maker’s stock valued at $208,000 after buying an additional 97 shares during the period. Bridgewater Advisors Inc. increased its position in shares of Abbott Laboratories by 3.6% during the third quarter. Bridgewater Advisors Inc. now owns 12,404 shares of the healthcare product maker’s stock worth $1,407,000 after acquiring an additional 434 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Abbott Laboratories by 103.1% in the 3rd quarter. Malaga Cove Capital LLC now owns 5,112 shares of the healthcare product maker’s stock worth $583,000 after acquiring an additional 2,595 shares during the last quarter. Baugh & Associates LLC increased its holdings in Abbott Laboratories by 9.1% during the 3rd quarter. Baugh & Associates LLC now owns 56,924 shares of the healthcare product maker’s stock worth $6,224,000 after purchasing an additional 4,737 shares in the last quarter. Finally, Graypoint LLC lifted its holdings in shares of Abbott Laboratories by 0.7% in the third quarter. Graypoint LLC now owns 42,737 shares of the healthcare product maker’s stock valued at $4,872,000 after purchasing an additional 295 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Barclays upped their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler Companies started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Raymond James reissued a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $115.92 on Thursday. The firm has a market cap of $201.06 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The business has a 50 day moving average price of $115.20 and a 200-day moving average price of $109.08.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is 66.87%.

Abbott Laboratories Company Profile

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.