1ST Source Bank Has $4.48 Million Position in Abbott Laboratories (NYSE:ABT)

1ST Source Bank trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,297 shares of the healthcare product maker’s stock after selling 1,533 shares during the quarter. 1ST Source Bank’s holdings in Abbott Laboratories were worth $4,480,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABT. Copley Financial Group Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $648,000. Fidelity D & D Bancorp Inc. purchased a new stake in Abbott Laboratories during the third quarter valued at about $269,000. Franklin Resources Inc. lifted its holdings in Abbott Laboratories by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock worth $1,144,818,000 after purchasing an additional 1,180,040 shares in the last quarter. Tidal Investments LLC raised its position in shares of Abbott Laboratories by 30.5% in the third quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock worth $12,234,000 after buying an additional 25,052 shares in the last quarter. Finally, Destination Wealth Management increased its stake in Abbott Laboratories by 1.5% in the third quarter. Destination Wealth Management now owns 240,821 shares of the healthcare product maker’s stock valued at $27,456,000 after acquiring an additional 3,562 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT stock traded down $0.42 during trading hours on Friday, reaching $113.44. 774,132 shares of the company’s stock were exchanged, compared to its average volume of 5,602,645. The stock’s 50 day moving average is $116.25 and its 200-day moving average is $111.06. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The company has a market cap of $196.76 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.69 and a beta of 0.73. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent research reports. Barclays raised their price target on Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price for the company. Raymond James reaffirmed a “buy” rating and issued a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Abbott Laboratories 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.