Abbott Laboratories (NYSE:ABT) Stock Position Decreased by First Western Trust Bank

First Western Trust Bank lessened its position in Abbott Laboratories (NYSE:ABT) by 11.5% in the 3rd quarter, Holdings Channel reports. The fund owned 49,170 shares of the healthcare product maker’s stock after selling 6,401 shares during the period. First Western Trust Bank’s holdings in Abbott Laboratories were worth $5,606,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its position in Abbott Laboratories by 11.7% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,082 shares of the healthcare product maker’s stock worth $921,000 after acquiring an additional 845 shares during the period. Holistic Financial Partners boosted its holdings in shares of Abbott Laboratories by 5.7% during the third quarter. Holistic Financial Partners now owns 2,962 shares of the healthcare product maker’s stock worth $338,000 after purchasing an additional 161 shares during the period. Swiss National Bank increased its stake in Abbott Laboratories by 0.5% in the 3rd quarter. Swiss National Bank now owns 5,163,580 shares of the healthcare product maker’s stock valued at $588,700,000 after buying an additional 26,000 shares during the period. S&CO Inc. lifted its position in Abbott Laboratories by 1.2% in the 3rd quarter. S&CO Inc. now owns 262,646 shares of the healthcare product maker’s stock worth $29,944,000 after buying an additional 3,135 shares in the last quarter. Finally, Concord Asset Management LLC VA boosted its stake in shares of Abbott Laboratories by 14.2% during the 3rd quarter. Concord Asset Management LLC VA now owns 15,188 shares of the healthcare product maker’s stock valued at $1,732,000 after buying an additional 1,890 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.8 %

Shares of NYSE ABT opened at $115.90 on Monday. Abbott Laboratories has a 1-year low of $97.64 and a 1-year high of $121.64. The company has a 50-day moving average of $115.53 and a two-hundred day moving average of $109.54. The company has a market cap of $201.02 billion, a PE 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 posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, equities analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABT shares. Jefferies Financial Group raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Barclays raised their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.07.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.