Keybank National Association OH Sells 9,964 Shares of Abbott Laboratories (NYSE:ABT)

Keybank National Association OH decreased its stake in Abbott Laboratories (NYSE:ABT) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,064 shares of the healthcare product maker’s stock after selling 9,964 shares during the period. Keybank National Association OH’s holdings in Abbott Laboratories were worth $110,176,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC lifted its stake in Abbott Laboratories by 2.9% in the 4th quarter. Alley Investment Management Company LLC now owns 142,327 shares of the healthcare product maker’s stock valued at $16,099,000 after purchasing an additional 4,046 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Abbott Laboratories by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,940,321 shares of the healthcare product maker’s stock valued at $1,463,680,000 after purchasing an additional 330,844 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Abbott Laboratories by 8.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 144,900 shares of the healthcare product maker’s stock valued at $16,390,000 after purchasing an additional 11,784 shares during the last quarter. Unified Investment Management acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $368,000. Finally, Gryphon Financial Partners LLC lifted its stake in Abbott Laboratories by 0.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 114,556 shares of the healthcare product maker’s stock valued at $12,957,000 after purchasing an additional 680 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $140.13 on Tuesday. The company’s 50 day simple moving average is $123.59 and its 200 day simple moving average is $118.10. The stock has a market capitalization of $243.03 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.00.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.68%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.