Fort Point Capital Partners LLC Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

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Fort Point Capital Partners LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,785 shares of the healthcare product maker’s stock after selling 185 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Abbott Laboratories were worth $521,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABT. Price Wealth LLC increased its stake in Abbott Laboratories by 63.6% during the third quarter. Price Wealth LLC now owns 306 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 119 shares during the period. RPG Investment Advisory LLC increased its stake in Abbott Laboratories by 113.4% during the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 203 shares during the period. Crewe Advisors LLC increased its stake in Abbott Laboratories by 278.4% during the 3rd quarter. Crewe Advisors LLC now owns 367 shares of the healthcare product maker’s stock worth $40,000 after buying an additional 270 shares during the period. Islay Capital Management LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth approximately $46,000. Finally, Jaffetilchin Investment Partners LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $52,000. 63.94% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the company. Credit Suisse Group reduced their price objective on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Jefferies Financial Group increased their price target on Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Wolfe Research initiated coverage on shares of Abbott Laboratories in a report on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $115.53.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 3,650 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $102.47, for a total transaction of $374,015.50. Following the completion of the transaction, the executive vice president now owns 44,080 shares in the company, valued at approximately $4,516,877.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert E. Funck sold 83,333 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $108.83, for a total transaction of $9,069,130.39. Following the completion of the sale, the chief financial officer now owns 265,550 shares of the company’s stock, valued at approximately $28,899,806.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,252 shares of company stock valued at $18,352,259. 1.70% of the stock is owned by company insiders.

Shares of ABT traded down $0.11 during mid-day trading on Friday, reaching $110.89. 4,075,245 shares of the company’s stock were exchanged, compared to its average volume of 6,953,833. The business’s fifty day simple moving average is $109.33 and its 200-day simple moving average is $100.26. The stock has a market capitalization of $196.54 billion, a PE ratio of 58.67, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. Abbott Laboratories has a 52-week low of $61.61 and a 52-week high of $115.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the firm posted $0.84 EPS. Abbott Laboratories’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 16th. Investors of record on Thursday, October 15th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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