Lowe Brockenbrough & Co. Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,713 shares of the healthcare product maker’s stock after selling 3,979 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Abbott Laboratories were worth $5,846,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Ridgewood Investments LLC boosted its stake in Abbott Laboratories by 3.1% during the 3rd quarter. Ridgewood Investments LLC now owns 3,248 shares of the healthcare product maker’s stock valued at $353,000 after purchasing an additional 98 shares during the last quarter. Hochman Cole Investment Advisors Inc. raised its holdings in shares of Abbott Laboratories by 0.3% in the third quarter. Hochman Cole Investment Advisors Inc. now owns 29,131 shares of the healthcare product maker’s stock valued at $3,170,000 after purchasing an additional 99 shares during the last quarter. Abbot Financial Management Inc. lifted its position in shares of Abbott Laboratories by 0.8% during the second quarter. Abbot Financial Management Inc. now owns 12,986 shares of the healthcare product maker’s stock valued at $1,187,000 after purchasing an additional 100 shares in the last quarter. Providence Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 3.4% during the second quarter. Providence Wealth Advisors LLC now owns 3,020 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 100 shares during the last quarter. Finally, Private Asset Management Inc. grew its position in Abbott Laboratories by 1.1% in the 3rd quarter. Private Asset Management Inc. now owns 8,996 shares of the healthcare product maker’s stock worth $979,000 after purchasing an additional 100 shares in the last quarter. 73.09% of the stock is owned by institutional investors.

ABT has been the topic of a number of research analyst reports. SVB Leerink boosted their target price on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Goldman Sachs Group set a $94.00 target price on Abbott Laboratories and gave the company a “sell” rating in a research report on Wednesday, September 2nd. Morgan Stanley lifted their target price on Abbott Laboratories from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, Credit Suisse Group reduced their price target on shares of Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and an average price target of $115.29.

In related news, EVP Andrea F. Wainer sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $102.47, for a total transaction of $374,015.50. Following the sale, the executive vice president now owns 44,080 shares of the company’s stock, valued at approximately $4,516,877.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Randel William Woodgrift sold 2,500 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $105.28, for a total transaction of $263,200.00. Following the completion of the sale, the senior vice president now owns 46,267 shares in the company, valued at $4,870,989.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,919 shares of company stock valued at $9,283,128. 1.70% of the stock is owned by corporate insiders.

Shares of ABT stock traded down $0.42 during trading on Tuesday, reaching $108.58. 254,722 shares of the company’s stock traded hands, compared to its average volume of 4,734,460. The firm’s 50-day moving average is $106.61 and its 200 day moving average is $97.89. The company has a market capitalization of $190.85 billion, a P/E ratio of 57.85, a PEG ratio of 2.46 and a beta of 0.92. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.30%. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.33%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers 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.

See Also: Consumer Price Index (CPI)

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.