Abbott Laboratories (NYSE:ABT) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,587 shares of the healthcare product maker’s stock after selling 883 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Abbott Laboratories were worth $7,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after acquiring an additional 2,323,807 shares in the last quarter. Geode Capital Management LLC boosted its position in Abbott Laboratories by 1.4% during the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP grew its stake in Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays raised their target price on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Price Performance

Shares of ABT traded down $0.97 during mid-day trading on Monday, reaching $112.86. 4,897,706 shares of the company’s stock were exchanged, compared to its average volume of 3,735,093. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $115.47 and a two-hundred day simple moving average of $112.27. The company has a market cap of $195.75 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio (DPR) is 71.73%.

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.