Abbott Laboratories (NYSE:ABT) Shares Sold by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 14.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,006 shares of the healthcare product maker’s stock after selling 2,975 shares during the period. Nixon Peabody Trust Co.’s holdings in Abbott Laboratories were worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the third quarter valued at about $32,000. Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABT. UBS Group raised their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target for the company. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories Stock Up 0.8 %

Abbott Laboratories stock traded up $0.91 during mid-day trading on Monday, hitting $116.81. 282,242 shares of the company’s stock were exchanged, compared to its average volume of 5,677,332. Abbott Laboratories has a 1-year low of $98.95 and a 1-year high of $121.64. The stock has a 50 day moving average of $115.53 and a two-hundred day moving average of $109.54. The stock has a market cap of $202.60 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.73 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating 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 the consensus estimate of $10.55 billion. During the same period last year, the business earned $1.14 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a $0.55 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.