Home Federal Bank of Tennessee Has $2.23 Million Stake in Abbott Laboratories (NYSE:ABT)

Home Federal Bank of Tennessee trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,669 shares of the healthcare product maker’s stock after selling 625 shares during the quarter. Abbott Laboratories comprises approximately 0.7% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 23rd biggest position. Home Federal Bank of Tennessee’s holdings in Abbott Laboratories were worth $2,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its position in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the third quarter worth $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC boosted its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the third quarter worth $37,000. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Piper Sandler boosted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group boosted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley boosted their target price on shares of 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 equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Down 0.9 %

Shares of NYSE ABT opened at $127.69 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $221.47 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85. The stock has a 50-day moving average price of $116.37 and a two-hundred day moving average price of $114.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

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.