Abbott Laboratories (NYSE:ABT) Stake Trimmed by Trust Co. of Oklahoma

Trust Co. of Oklahoma lowered its stake in Abbott Laboratories (NYSE:ABT) by 13.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,526 shares of the healthcare product maker’s stock after selling 730 shares during the quarter. Trust Co. of Oklahoma’s holdings in Abbott Laboratories were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ABT. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $28,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABT shares. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup lifted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their price target on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.54.

Abbott Laboratories Stock Performance

NYSE ABT traded down $1.15 during trading on Tuesday, hitting $116.10. The company’s stock had a trading volume of 2,990,669 shares, compared to its average volume of 5,704,436. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $113.31 and a 200 day moving average price of $108.32. The firm has a market cap of $201.97 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $90.87 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

About Abbott Laboratories

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.