Arlington Trust Co LLC Sells 400 Shares of Abbott Laboratories (NYSE:ABT)

Arlington Trust Co LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,463 shares of the healthcare product maker’s stock after selling 400 shares during the quarter. Arlington Trust Co LLC’s holdings in Abbott Laboratories were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories in the second quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the second quarter valued at $32,000. Valued Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter valued at about $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 4.6 %

ABT traded up $5.23 during trading hours on Friday, hitting $118.60. 10,149,305 shares of the company’s stock were exchanged, compared to its average volume of 5,727,483. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12-month low of $92.43 and a 12-month high of $121.64. The firm has a market cap of $206.35 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 2.69 and a beta of 0.72. The firm has a 50 day moving average of $114.93 and a 200 day moving average of $108.84.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. Analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

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.