Abbott Laboratories (NYSE:ABT) Shares Sold by Members Trust Co

Members Trust Co reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,127 shares of the healthcare product maker’s stock after selling 348 shares during the period. Members Trust Co’s holdings in Abbott Laboratories were worth $357,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $84,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories during the 4th quarter worth $29,000. SageView Advisory Group LLC increased its position in Abbott Laboratories by 14.2% in the fourth quarter. SageView Advisory Group LLC now owns 13,005 shares of the healthcare product maker’s stock worth $1,476,000 after buying an additional 1,619 shares during the period. Nomura Holdings Inc. lifted its stake in Abbott Laboratories by 1,566.0% in the fourth quarter. Nomura Holdings Inc. now owns 34,986 shares of the healthcare product maker’s stock valued at $3,851,000 after buying an additional 32,886 shares during the last quarter. Finally, Trust Co. of Toledo NA OH boosted its holdings in shares of Abbott Laboratories by 0.9% during the first quarter. Trust Co. of Toledo NA OH now owns 72,196 shares of the healthcare product maker’s stock valued at $8,206,000 after acquiring an additional 630 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 1.0 %

NYSE:ABT traded down $1.15 during trading hours on Tuesday, hitting $116.10. 2,990,669 shares of the stock traded hands, compared to its average volume of 5,704,436. Abbott Laboratories has a fifty-two week low of $90.87 and a fifty-two week high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a market cap of $201.97 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.74 and a beta of 0.72. The firm has a 50 day moving average price of $113.31 and a 200 day moving average price of $108.32.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent research reports. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Raymond James reaffirmed a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 price target on shares of Abbott Laboratories in a research note on Thursday, September 26th. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

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.