Abbott Laboratories (NYSE:ABT) Shares Sold by Field & Main Bank

Field & Main Bank lessened its stake in Abbott Laboratories (NYSE:ABT) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,230 shares of the healthcare product maker’s stock after selling 605 shares during the quarter. Field & Main Bank’s holdings in Abbott Laboratories were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allen Capital Group LLC boosted its position in Abbott Laboratories by 7.1% in the 4th quarter. Allen Capital Group LLC now owns 5,033 shares of the healthcare product maker’s stock worth $569,000 after purchasing an additional 332 shares in the last quarter. Iams Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 5.7% in the 4th quarter. Iams Wealth Management LLC now owns 17,450 shares of the healthcare product maker’s stock valued at $1,974,000 after purchasing an additional 942 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Abbott Laboratories by 88.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 500,979 shares of the healthcare product maker’s stock worth $56,666,000 after buying an additional 235,790 shares in the last quarter. Capital Investment Counsel LLC grew its position in Abbott Laboratories by 3.5% during the fourth quarter. Capital Investment Counsel LLC now owns 5,593 shares of the healthcare product maker’s stock valued at $633,000 after buying an additional 190 shares during the period. Finally, Orca Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth about $288,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $128.79 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market capitalization of $223.38 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The firm’s 50-day moving average is $115.71 and its two-hundred day moving average is $113.80. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Analysts predict that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays restated an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday. Morgan Stanley upped their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler lifted 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. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories 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.