Stonebrook Private Inc. Has $435,000 Position in Abbott Laboratories (NYSE:ABT)

Stonebrook Private Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,815 shares of the healthcare product maker’s stock after selling 255 shares during the period. Stonebrook Private Inc.’s holdings in Abbott Laboratories were worth $435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABT. Steel Grove Capital Advisors LLC grew its position in shares of Abbott Laboratories by 21.1% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 2,457 shares of the healthcare product maker’s stock valued at $279,000 after buying an additional 428 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Abbott Laboratories by 6.7% during the 1st quarter. Kestra Advisory Services LLC now owns 166,059 shares of the healthcare product maker’s stock valued at $18,874,000 after purchasing an additional 10,390 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Abbott Laboratories by 25.4% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 863 shares of the healthcare product maker’s stock valued at $98,000 after purchasing an additional 175 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of Abbott Laboratories by 3.5% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 32,807 shares of the healthcare product maker’s stock valued at $3,729,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Transcendent Capital Group LLC boosted its position in shares of Abbott Laboratories by 306.0% during the 1st quarter. Transcendent Capital Group LLC now owns 1,084 shares of the healthcare product maker’s stock valued at $123,000 after purchasing an additional 817 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABT shares. UBS Group upped their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Raymond James reiterated a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Performance

Shares of ABT opened at $117.76 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $204.25 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.76 and a beta of 0.72. The stock has a 50 day moving average of $115.58 and a 200 day moving average of $109.88. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. As a group, sell-side analysts forecast 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 was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

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.