Abbott Laboratories $ABT Stock Holdings Decreased by Sanders Capital LLC

Key Points

• Sanders Capital reduced its Abbott Laboratories stake by 4.3% in the third quarter, selling 45,680 shares and retaining 1,004,725 shares valued at about $99.3 million.
• Abbott reported quarterly EPS of $1.42, in line with estimates, while revenue of $13.01 billion slightly exceeded forecasts and rose 14.5% year over year.
• Analysts give Abbott a “Moderate Buy” consensus rating, with an average price target of $118.32; the company also declared a quarterly dividend of $0.63 per share.

Sanders Capital LLC decreased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,004,725 shares of the healthcare product maker's stock after selling 45,680 shares during the period. Sanders Capital LLC owned 0.06% of Abbott Laboratories worth $99,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Foresight Capital Management Advisors Inc. acquired a new stake in Abbott Laboratories in the third quarter worth $31,000. Manning & Napier Advisors LLC bought a new stake in Abbott Laboratories in the second quarter valued at $31,000. Balance Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the third quarter valued at $34,000. Summit Securities Group LLC boosted its holdings in shares of Abbott Laboratories by 41.3% during the second quarter. Summit Securities Group LLC now owns 404 shares of the healthcare product maker's stock valued at $37,000 after acquiring an additional 118 shares during the period. Finally, Addison Advisors LLC bought a new position in shares of Abbott Laboratories during the second quarter worth about $40,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT traded down $3.58 during trading hours on Friday, reaching $110.02. 8,345,115 shares of the company's stock traded hands, compared to its average volume of 9,814,218. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The business's fifty day simple moving average is $104.04 and its two-hundred day simple moving average is $101.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a market capitalization of $190.38 billion, a price-to-earnings ratio of 41.05, a P/E/G ratio of 1.93 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. Abbott Laboratories's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. Analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories's dividend payout ratio is currently 94.03%.

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. Wolfe Research raised shares of Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a report on Thursday, August 13th. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, October 7th. They set an "overweight" rating and a $120.00 target price for the company. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $112.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Robert W. Baird lifted their price target on Abbott Laboratories from $121.00 to $123.00 and gave the company an "outperform" rating in a report on Thursday, October 22nd. Finally, Citigroup reduced their price objective on Abbott Laboratories from $125.00 to $122.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average price target of $118.32.

Insider Activity

In related news, EVP Mary Moreland sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $116.00, for a total transaction of $406,000.00. Following the transaction, the executive vice president owned 100,791 shares in the company, valued at $11,691,756. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings.

Abbott's offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac.

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