Abbott Laboratories (NYSE:ABT) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 143,269 shares of the healthcare product maker’s stock after selling 3,874 shares during the period. Associated Banc Corp’s holdings in Abbott Laboratories were worth $16,334,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories during the third quarter worth about $31,000. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its stake in 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 acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the 2nd 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 the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.60 during midday trading on Monday, hitting $118.36. The company had a trading volume of 156,880 shares, compared to its average volume of 5,671,426. 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 has a 50-day simple moving average of $115.58 and a two-hundred day simple moving average of $109.94. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The firm has a market capitalization of $205.29 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly 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. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.86%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.