Truist Financial Corp Has $159.91 Million Holdings in Abbott Laboratories (NYSE:ABT)

Truist Financial Corp lessened its stake in Abbott Laboratories (NYSE:ABT) by 4.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,413,727 shares of the healthcare product maker’s stock after selling 61,579 shares during the quarter. Truist Financial Corp’s holdings in Abbott Laboratories were worth $159,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories during the third quarter worth $32,000. Valued Wealth Advisors LLC increased its holdings in Abbott Laboratories by 78.4% during 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 last quarter. Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth $34,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories in the third quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.9 %

Abbott Laboratories stock opened at $130.63 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.65. The stock has a market capitalization of $226.56 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The business’s fifty day moving average is $118.97 and its 200 day moving average is $116.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the firm posted $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group upped their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Barclays reissued an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.