Burke & Herbert Bank & Trust Co. Has $1.76 Million Holdings in Abbott Laboratories (NYSE:ABT)

Burke & Herbert Bank & Trust Co. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 2.9% in the third quarter, HoldingsChannel.com reports. The firm owned 15,407 shares of the healthcare product maker’s stock after selling 468 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Abbott Laboratories were worth $1,757,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Tandem Capital Management Corp ADV boosted its holdings in Abbott Laboratories by 2.6% in the third quarter. Tandem Capital Management Corp ADV now owns 32,980 shares of the healthcare product maker’s stock valued at $3,748,000 after acquiring an additional 833 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Abbott Laboratories by 10.7% in the 3rd quarter. Ballentine Partners LLC now owns 37,939 shares of the healthcare product maker’s stock worth $4,325,000 after purchasing an additional 3,678 shares during the period. Coerente Capital Management increased its position in shares of Abbott Laboratories by 0.3% during the third quarter. Coerente Capital Management now owns 221,549 shares of the healthcare product maker’s stock worth $25,259,000 after buying an additional 635 shares during the period. Silver Oak Securities Incorporated lifted its holdings in Abbott Laboratories by 44.7% in the third quarter. Silver Oak Securities Incorporated now owns 7,111 shares of the healthcare product maker’s stock valued at $799,000 after buying an additional 2,197 shares during the period. Finally, West Michigan Advisors LLC boosted its position in Abbott Laboratories by 1.5% during the third quarter. West Michigan Advisors LLC now owns 9,680 shares of the healthcare product maker’s stock valued at $1,104,000 after acquiring an additional 145 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABT shares. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $129.67.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories 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 transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 1.2 %

Shares of Abbott Laboratories stock traded down $1.37 on Friday, hitting $115.17. The company had a trading volume of 375,708 shares, compared to its average volume of 5,697,317. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a market capitalization of $200.35 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.74 and a beta of 0.72. The stock has a 50 day moving average of $114.46 and a 200-day moving average of $108.62. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s payout ratio is 68.54%.

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.