Sunflower Bank N.A. Has $1.62 Million Position in Abbott Laboratories (NYSE:ABT)

Sunflower Bank N.A. reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 14,193 shares of the healthcare product maker’s stock after selling 221 shares during the period. Abbott Laboratories accounts for approximately 0.4% of Sunflower Bank N.A.’s holdings, making the stock its 28th biggest position. Sunflower Bank N.A.’s holdings in Abbott Laboratories were worth $1,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital International Investors lifted its holdings in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories during the first quarter worth approximately $341,777,000. Sessa Capital IM L.P. acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $264,876,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after buying an additional 1,996,320 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABT shares. Barclays upped their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group restated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated 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 in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT traded up $0.50 during trading hours on Friday, reaching $116.12. The company had a trading volume of 3,471,291 shares, compared to its average volume of 5,728,511. The stock has a 50-day moving average of $113.13 and a two-hundred day moving average of $108.33. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a market capitalization of $202.01 billion, a PE ratio of 36.17, a PEG ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. 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 issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

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.