Toronto Dominion Bank Has $80.59 Million Position in Abbott Laboratories (NYSE:ABT)

Toronto Dominion Bank trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 23.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,894 shares of the healthcare product maker’s stock after selling 220,223 shares during the quarter. Toronto Dominion Bank’s holdings in Abbott Laboratories were worth $80,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empire Financial Management Company LLC increased its holdings in Abbott Laboratories by 0.8% in the third quarter. Empire Financial Management Company LLC now owns 38,793 shares of the healthcare product maker’s stock valued at $4,423,000 after purchasing an additional 302 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Abbott Laboratories by 4.7% in the third quarter. Coldstream Capital Management Inc. now owns 68,283 shares of the healthcare product maker’s stock valued at $7,789,000 after buying an additional 3,055 shares during the period. JDM Financial Group LLC lifted its stake in shares of Abbott Laboratories by 51.3% in the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Finally, MidWestOne Financial Group Inc. raised its holdings in Abbott Laboratories by 1.5% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 41,080 shares of the healthcare product maker’s stock worth $4,683,000 after purchasing an additional 604 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.5 %

Shares of NYSE ABT opened at $115.51 on Wednesday. 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 has a 1 year low of $99.71 and a 1 year high of $121.64. The stock has a market capitalization of $200.35 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.72 and a beta of 0.73. The company has a 50-day moving average price of $116.17 and a 200-day moving average price of $110.93.

Abbott Laboratories (NYSE:ABT) last posted 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. The company had revenue of $10.64 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Barclays upped their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler boosted their price target on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insider Buying and Selling

In other Abbott Laboratories 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 transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.

About Abbott Laboratories

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.