Thomasville National Bank Sells 350 Shares of Abbott Laboratories (NYSE:ABT)

Thomasville National Bank lowered its position in Abbott Laboratories (NYSE:ABT) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,076 shares of the healthcare product maker’s stock after selling 350 shares during the period. Thomasville National Bank’s holdings in Abbott Laboratories were worth $2,045,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories in the 2nd quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Royal Bank of Canada upped their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.27 on Monday, reaching $112.58. 1,191,727 shares of the stock were exchanged, compared to its average volume of 4,283,651. 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 has a one year low of $99.71 and a one year high of $121.64. The firm has a market capitalization of $195.26 billion, a PE ratio of 34.22, a PEG ratio of 2.69 and a beta of 0.73. The company’s 50-day simple moving average is $115.33 and its two-hundred day simple moving average is $112.54.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s quarterly 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. Analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.10%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is currently 71.73%.

Abbott Laboratories Company 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.