Mission Wealth Management LP lowered its position in Abbott Laboratories (NYSE:ABT) by 2.5% in the third quarter, HoldingsChannel.com reports. The fund owned 12,766 shares of the healthcare product maker’s stock after selling 322 shares during the quarter. Mission Wealth Management LP’s holdings in Abbott Laboratories were worth $1,389,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Abbott Laboratories by 5.2% in the second quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock valued at $12,319,776,000 after acquiring an additional 6,621,486 shares during the last quarter. State Street Corp raised its stake in shares of Abbott Laboratories by 0.7% in the first quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after acquiring an additional 528,871 shares during the last quarter. Capital International Investors raised its stake in shares of Abbott Laboratories by 17.9% in the first quarter. Capital International Investors now owns 55,781,543 shares of the healthcare product maker’s stock valued at $4,401,723,000 after acquiring an additional 8,454,341 shares during the last quarter. Morgan Stanley raised its stake in shares of Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after acquiring an additional 2,578,161 shares during the last quarter. Finally, GQG Partners LLC raised its position in Abbott Laboratories by 29.3% in the 2nd quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock worth $1,146,169,000 after purchasing an additional 2,841,074 shares during the last quarter. Institutional investors own 73.09% of the company’s stock.

ABT has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. SVB Leerink boosted their price objective on shares of Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Credit Suisse Group boosted their price objective on shares of Abbott Laboratories from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Bank of America boosted their price objective on shares of Abbott Laboratories from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $114.44.

Shares of ABT stock opened at $109.67 on Friday. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The firm has a market capitalization of $194.17 billion, a price-to-earnings ratio of 63.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $106.58 and a 200-day moving average of $96.39.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was down 8.2% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 3.3 earnings per share for the current year.

The company 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 is Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

In related news, SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total value of $2,254,784.00. Following the completion of the transaction, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 3,650 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $102.47, for a total transaction of $374,015.50. Following the completion of the transaction, the executive vice president now directly owns 44,080 shares of the company’s stock, valued at $4,516,877.60. 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 in the last three months. 1.70% of the stock is owned by company insiders.

Abbott Laboratories Profile

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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