Abbott Laboratories $ABT Shares Purchased by Keybank National Association OH

Keybank National Association OH lifted its position in Abbott Laboratories (NYSE:ABT) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261,773 shares of the healthcare product maker’s stock after purchasing an additional 8,778 shares during the period. Keybank National Association OH owned about 0.07% of Abbott Laboratories worth $124,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Searle & CO. raised its holdings in Abbott Laboratories by 11.5% in the 3rd quarter. Searle & CO. now owns 19,368 shares of the healthcare product maker’s stock worth $1,914,000 after purchasing an additional 2,000 shares during the period. 71 West Capital Partners grew its holdings in Abbott Laboratories by 3.6% in the third quarter. 71 West Capital Partners now owns 12,500 shares of the healthcare product maker’s stock valued at $1,235,000 after purchasing an additional 435 shares during the period. Pinion Investment Advisors LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $250,000. Vestor Capital LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $104,979,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $324,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In related news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the completion of the transaction, the executive vice president directly owned 100,791 shares of the company’s stock, valued at approximately $11,691,756. This represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. UBS Group decreased their target price on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Robert W. Baird lifted their price target on shares of Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Weiss Ratings raised shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 18th. BTIG Research reduced their price objective on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.32.

Abbott Laboratories Trading Up 0.1%

ABT stock opened at $110.58 on Wednesday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02. The business’s 50-day moving average is $103.99 and its 200 day moving average is $101.74. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market cap of $191.53 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 1.94 and a beta of 0.54.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, meeting analysts’ consensus estimates of $1.42. The business had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Abbott Laboratories had a return on equity of 18.04% and a net margin of 9.75%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is presently 94.03%.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.