Field & Main Bank Trims Holdings in Abbott Laboratories (NYSE:ABT)

Field & Main Bank trimmed its position in Abbott Laboratories (NYSE:ABT) by 8.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,835 shares of the healthcare product maker’s stock after selling 1,066 shares during the quarter. Field & Main Bank’s holdings in Abbott Laboratories were worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth approximately $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $32,000. Valued Wealth Advisors LLC boosted its stake in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the 2nd quarter worth approximately $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Oppenheimer assumed coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Citigroup increased their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Performance

ABT stock opened at $116.59 on Friday. 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 business’s fifty day simple moving average is $115.32 and its two-hundred day simple moving average is $109.19. Abbott Laboratories has a twelve month low of $92.43 and a twelve month high of $121.64. The firm has a market cap of $202.22 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.75 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. 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 dividend payout ratio is currently 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.