Segment Wealth Management LLC Has $549,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Segment Wealth Management LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,818 shares of the healthcare product maker’s stock after selling 295 shares during the quarter. Segment Wealth Management LLC’s holdings in Abbott Laboratories were worth $549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories during the first quarter worth about $30,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories during the second quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories during the second quarter worth about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.7 %

Shares of ABT opened at $116.99 on Thursday. Abbott Laboratories has a one year low of $91.64 and a one year high of $121.64. The company has a market cap of $203.52 billion, a P/E ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $114.46 and a two-hundred day simple moving average of $108.62.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

A number of research firms recently commented on ABT. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Profile

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.