Abbott Laboratories $ABT Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 471,499 shares of the healthcare product maker’s stock after selling 8,511 shares during the period. Nisa Investment Advisors LLC’s holdings in Abbott Laboratories were worth $46,598,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Purpose Unlimited Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new stake in Abbott Laboratories in the second quarter worth $31,000. Summit Securities Group LLC boosted its holdings in Abbott Laboratories by 41.3% in 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 in the last quarter. Addison Advisors LLC bought a new stake in Abbott Laboratories in the second quarter valued at $40,000. Finally, Hoey Investments Inc. increased its position in Abbott Laboratories by 59.3% during the 1st quarter. Hoey Investments Inc. now owns 446 shares of the healthcare product maker’s stock valued at $46,000 after purchasing an additional 166 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, August 13th. BTIG Research upped their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Weiss Ratings upgraded shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. Finally, TD Cowen reissued a “buy” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research report on Friday, October 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.88.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $102.68 on Wednesday. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02. 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 business has a fifty day moving average price of $105.68 and a 200-day moving average price of $98.30. The company has a market capitalization of $177.67 billion, a PE ratio of 19.78, a PEG ratio of 1.93 and a beta of 0.59.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.5%. Abbott Laboratories’s payout ratio is presently 81.55%.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott received the European CE Mark under the EU In Vitro Diagnostic Regulation for Cologuard Plus, its noninvasive, stool-based colorectal cancer screening test. The authorization allows commercialization in select European markets and expands Abbott’s diagnostics portfolio and potential customer base. Abbott Laboratories (ABT) Secures Europe CE Mark For Colorectal Cancer Test
• Positive Sentiment: Reports that President Trump and prominent investors, including billionaire fund managers, bought Abbott stock may provide a modest sentiment boost, although these purchases do not change the company’s fundamentals. Billionaires and Trump Were Buying This Healthcare Stock

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.