Bank of Stockton Sells 345 Shares of Abbott Laboratories (NYSE:ABT)

Bank of Stockton reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,105 shares of the healthcare product maker’s stock after selling 345 shares during the quarter. Bank of Stockton’s holdings in Abbott Laboratories were worth $2,292,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABT. Lake Street Advisors Group LLC increased its holdings in shares of Abbott Laboratories by 1.2% during the 3rd quarter. Lake Street Advisors Group LLC now owns 16,919 shares of the healthcare product maker’s stock worth $1,929,000 after acquiring an additional 196 shares during the last quarter. Hudock Inc. increased its holdings in shares of Abbott Laboratories by 4.9% in the third quarter. Hudock Inc. now owns 3,409 shares of the healthcare product maker’s stock valued at $389,000 after purchasing an additional 158 shares during the last quarter. Tandem Capital Management Corp ADV raised its position in shares of Abbott Laboratories by 2.6% in the third quarter. Tandem Capital Management Corp ADV now owns 32,980 shares of the healthcare product maker’s stock valued at $3,748,000 after purchasing an additional 833 shares during the period. Ballentine Partners LLC lifted its stake in shares of Abbott Laboratories by 10.7% during the 3rd quarter. Ballentine Partners LLC now owns 37,939 shares of the healthcare product maker’s stock worth $4,325,000 after buying an additional 3,678 shares during the last quarter. Finally, Coerente Capital Management boosted its holdings in shares of Abbott Laboratories by 0.3% during the 3rd quarter. Coerente Capital Management now owns 221,549 shares of the healthcare product maker’s stock worth $25,259,000 after buying an additional 635 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Evercore ISI raised their price objective 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. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Mizuho raised their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Price Performance

NYSE ABT traded down $1.05 on Friday, hitting $115.49. 1,008,464 shares of the company’s stock were exchanged, compared to its average volume of 5,700,374. The stock has a 50-day moving average of $114.57 and a 200-day moving average of $108.67. The stock has a market cap of $200.91 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $91.64 and a 52 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.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the firm posted $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.