Mawer Investment Management Ltd. Sells 24,407 Shares of Abbott Laboratories (NYSE:ABT)

Mawer Investment Management Ltd. reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,399,786 shares of the healthcare product maker’s stock after selling 24,407 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Abbott Laboratories were worth $159,590,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital International Investors increased its stake in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after buying an additional 5,882,780 shares during the last quarter. Swedbank AB bought a new stake in Abbott Laboratories during the first quarter worth $341,777,000. Sessa Capital IM L.P. bought a new position in Abbott Laboratories in the 2nd quarter valued at $264,876,000. Assenagon Asset Management S.A. boosted its holdings in shares of Abbott Laboratories by 493.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after buying an additional 1,996,320 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Abbott Laboratories by 13,194.9% in the third quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after acquiring an additional 1,667,170 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Up 0.2 %

Shares of Abbott Laboratories stock traded up $0.27 during trading on Monday, reaching $116.17. 158,523 shares of the stock were exchanged, compared to its average volume of 5,676,104. Abbott Laboratories has a 1 year low of $98.95 and a 1 year high of $121.64. The firm has a market cap of $201.49 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $115.53 and its 200 day moving average is $109.54.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 66.87%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABT shares. Raymond James restated a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Morgan Stanley raised their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.07.

Abbott Laboratories Company 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.