Cadence Bank Sells 1,241 Shares of Abbott Laboratories (NYSE:ABT)

Cadence Bank reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,696 shares of the healthcare product maker’s stock after selling 1,241 shares during the quarter. Cadence Bank’s holdings in Abbott Laboratories were worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $26,000. NewSquare Capital LLC lifted its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock worth $15,463,316 in the last 90 days. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 1.0 %

ABT stock opened at $131.00 on Friday. The business has a 50-day moving average of $130.63 and a 200-day moving average of $121.72. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market capitalization of $227.20 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.52 and a beta of 0.80. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABT shares. Morgan Stanley increased their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays boosted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

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.