Abbott Laboratories (NYSE:ABT) Shares Sold by St. Louis Trust Co

St. Louis Trust Co lowered its stake in Abbott Laboratories (NYSE:ABT) by 17.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,956 shares of the healthcare product maker’s stock after selling 1,723 shares during the period. St. Louis Trust Co’s holdings in Abbott Laboratories were worth $907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in Abbott Laboratories by 45.3% during the 1st quarter. Acadian Asset Management LLC now owns 52,270 shares of the healthcare product maker’s stock worth $5,936,000 after buying an additional 16,300 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Abbott Laboratories by 50.4% in the first quarter. Hillsdale Investment Management Inc. now owns 3,580 shares of the healthcare product maker’s stock worth $407,000 after acquiring an additional 1,200 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Abbott Laboratories by 82.2% during the first quarter. Lake Street Advisors Group LLC now owns 17,585 shares of the healthcare product maker’s stock valued at $1,999,000 after acquiring an additional 7,936 shares during the period. MQS Management LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $743,000. Finally, Evermay Wealth Management LLC boosted its stake in Abbott Laboratories by 3.4% in the 1st quarter. Evermay Wealth Management LLC now owns 3,548 shares of the healthcare product maker’s stock worth $403,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Evercore ISI increased their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

Abbott Laboratories Stock Up 1.3 %

ABT stock opened at $117.36 on Tuesday. 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 firm has a market cap of $203.56 billion, a PE ratio of 35.67, a PEG ratio of 2.73 and a beta of 0.72. Abbott Laboratories has a 1 year low of $98.95 and a 1 year high of $121.64. The company has a fifty day simple moving average of $115.55 and a 200 day simple moving average of $109.62.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company 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 business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

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.