Abbott Laboratories (NYSE:ABT) Stock Holdings Lessened by Trust Point Inc.

Trust Point Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,292 shares of the healthcare product maker’s stock after selling 619 shares during the quarter. Trust Point Inc.’s holdings in Abbott Laboratories were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Signal Advisors Wealth LLC grew its stake in shares of Abbott Laboratories by 38.8% in the first quarter. Signal Advisors Wealth LLC now owns 3,490 shares of the healthcare product maker’s stock worth $397,000 after acquiring an additional 976 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Abbott Laboratories by 9.4% in the first quarter. Wedmont Private Capital now owns 13,224 shares of the healthcare product maker’s stock worth $1,487,000 after acquiring an additional 1,132 shares during the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of Abbott Laboratories by 0.8% in the first quarter. KMG Fiduciary Partners LLC now owns 16,378 shares of the healthcare product maker’s stock worth $1,862,000 after acquiring an additional 132 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Abbott Laboratories by 10.1% during the first quarter. SOA Wealth Advisors LLC. now owns 1,104 shares of the healthcare product maker’s stock worth $125,000 after buying an additional 101 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Abbott Laboratories by 4.8% during the first quarter. Park Avenue Securities LLC now owns 62,287 shares of the healthcare product maker’s stock worth $7,080,000 after buying an additional 2,840 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ABT. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target for the company. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday. Finally, Piper Sandler Companies initiated coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, 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 this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.6 %

Shares of NYSE ABT traded up $0.72 during mid-day trading on Friday, hitting $118.61. 1,326,661 shares of the stock traded hands, compared to its average volume of 5,704,354. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. Abbott Laboratories has a 52 week low of $91.64 and a 52 week high of $121.64. The company has a market cap of $206.34 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.74 and a beta of 0.72. The stock has a fifty day moving average price of $113.76 and a 200-day moving average price of $108.47.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 for the quarter, compared to the consensus estimate of $10.55 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 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

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.