Fidelis Capital Partners LLC Reduces Holdings in Abbott Laboratories (NYSE:ABT)

Fidelis Capital Partners LLC lessened its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 7.6% during the second quarter, HoldingsChannel reports. The firm owned 16,383 shares of the medical products maker’s stock after selling 1,340 shares during the period. Fidelis Capital Partners LLC’s holdings in Abbott Laboratories were worth $1,801,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Gilbert & Cook Inc. raised its position in Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the medical products maker’s stock worth $832,000 after purchasing an additional 1,120 shares during the last quarter. Accretive Wealth Partners LLC boosted its stake in Abbott Laboratories by 1.2% in the fourth quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the medical products maker’s stock worth $1,466,000 after purchasing an additional 152 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Abbott Laboratories by 13.3% in the 4th quarter. Aveo Capital Partners LLC now owns 3,525 shares of the medical products maker’s stock worth $388,000 after buying an additional 413 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Abbott Laboratories by 3.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 111,176 shares of the medical products maker’s stock valued at $12,252,000 after buying another 3,767 shares in the last quarter. Finally, TrinityPoint Wealth LLC boosted its holdings in shares of Abbott Laboratories by 1.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,247 shares of the medical products maker’s stock, valued at $2,339,000 after which bought an additional 376 shares in the last quarter. 75.18% of shares are currently owned by institutional investors.

Insider trading at Abbott Laboratories

In related 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 transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Corporate insiders own 1.10% of the company’s shares.

Abbott Laboratories Price Performance

ABT opened at $113.70 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18, and a current ratio of 1.68. The stock has a market cap of $197.80 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The stock’s 50-day moving average price is $110.50 and its 200-day moving average price is $108.53. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT – Get Free Report ) last issued its quarterly earnings data on Thursday, July 18th. The medical products maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.0% year over year. During the same period in the prior year, the business earned $1.08 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a dividend of $2.20 on an annualized basis and a dividend yield of 1.93%. Abbott Laboratories’ dividend payout ratio (DPR) is 68.54%.

Analyst upgrades and downgrades

A number of research analysts have commented on ABT shares. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Evercore ISI cut their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Citigroup boosted their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Piper Sandler Companies assumed coverage on Abbott Laboratories in a report on Thursday. They set an “overweight” rating and a $131.00 price target for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average price target of $123.33, according to MarketBeat.

Check out the latest stock analysis on ABT

Abbott Laboratories Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells health care products worldwide. It operates in four segments: Established Pharmaceuticals, Diagnostics, Nutritional Products and Medical Devices. The company provides generic pharmaceutical products for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease, vestibular pain and inflammation. , and migraine, as well as offers the anti-infective clarithromycin, flu vaccine, and products to regulate the physiological rhythm of the colon.

Featured stories

Want to see what other hedge funds ABT owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).

Get daily news and reviews for Abbott Laboratories – 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.