Whittier Trust Co. Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Whittier Trust Co. lifted its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 382,513 shares of the healthcare product maker’s stock after buying an additional 2,315 shares during the period. Whittier Trust Co.’s holdings in Abbott Laboratories were worth $43,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. Northwest Investment Counselors LLC lifted its holdings in Abbott Laboratories by 0.8% in the 3rd quarter. Northwest Investment Counselors LLC now owns 23,019 shares of the healthcare product maker’s stock worth $2,624,000 after buying an additional 181 shares during the period. Border to Coast Pensions Partnership Ltd lifted its stake in Abbott Laboratories by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 370,739 shares of the healthcare product maker’s stock worth $42,145,000 after acquiring an additional 15,816 shares during the period. Prentiss Smith & Co. Inc. increased its position in Abbott Laboratories by 44.0% during the 3rd quarter. Prentiss Smith & Co. Inc. now owns 57,682 shares of the healthcare product maker’s stock valued at $6,576,000 after purchasing an additional 17,619 shares during the period. MBE Wealth Management LLC raised its holdings in Abbott Laboratories by 2.2% in the 3rd quarter. MBE Wealth Management LLC now owns 5,126 shares of the healthcare product maker’s stock worth $584,000 after purchasing an additional 111 shares in the last quarter. Finally, Wealth Advisory Solutions LLC lifted its position in shares of Abbott Laboratories by 12.2% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 5,493 shares of the healthcare product maker’s stock worth $626,000 after purchasing an additional 599 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ABT shares. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Abbott Laboratories Trading Down 2.0 %

Shares of Abbott Laboratories stock traded down $2.37 during mid-day trading on Monday, hitting $117.02. The stock had a trading volume of 4,687,333 shares, compared to its average volume of 5,726,943. The firm has a market cap of $203.57 billion, a P/E ratio of 36.55, a price-to-earnings-growth 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. The firm has a 50-day moving average of $113.97 and a two-hundred day moving average of $108.48. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) 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 analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly 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 filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by 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.