CNB Bank Has $725,000 Stake in Abbott Laboratories (NYSE:ABT)

CNB Bank cut its stake in Abbott Laboratories (NYSE:ABT) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,414 shares of the healthcare product maker’s stock after selling 594 shares during the period. CNB Bank’s holdings in Abbott Laboratories were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Abbott Laboratories by 25.6% during the third 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 buying an additional 2,711,586 shares in the last quarter. Sessa Capital IM L.P. bought a new position in Abbott Laboratories in the second quarter valued at $264,876,000. State Street Corp increased 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 during the last quarter. International Assets Investment Management LLC raised its stake in shares of Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after buying an additional 1,180,040 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent research reports. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Raymond James restated a “buy” rating and set a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Down 0.0 %

Abbott Laboratories stock opened at $113.86 on Friday. The company has a market capitalization of $197.48 billion, a PE ratio of 34.67, a PEG ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm’s fifty day moving average is $115.02 and its 200 day moving average is $112.65. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 13.99%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.07%. Abbott Laboratories’s dividend payout ratio is 66.87%.

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.