Opal Wealth Advisors LLC Sells 173 Shares of Abbott Laboratories (NYSE:ABT)

Opal Wealth Advisors LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,189 shares of the healthcare product maker’s stock after selling 173 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $364,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $28,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $31,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the 2nd quarter valued at about $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock opened at $116.04 on Wednesday. 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 firm has a market cap of $201.87 billion, a PE ratio of 36.15, a P/E/G ratio of 2.74 and a beta of 0.72. The business has a 50 day moving average of $113.44 and a 200-day moving average of $108.34. Abbott Laboratories has a 12-month low of $90.87 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABT shares. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $125.54.

About Abbott Laboratories

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.