Abbott Laboratories (NYSE:ABT) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. trimmed its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,587 shares of the healthcare product maker’s stock after selling 883 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Abbott Laboratories were worth $7,419,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Groupama Asset Managment raised its holdings in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Abbott Laboratories during the third quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories in the second quarter worth $32,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at $32,000. Finally, Valued Wealth Advisors LLC boosted its position in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James restated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays increased their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Mizuho raised their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler Companies began coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Finally, Royal Bank of Canada upped their target price on Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Get Our Latest Research Report on Abbott Laboratories

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $0.97 during midday trading on Monday, reaching $112.86. 4,897,706 shares of the stock traded hands, compared to its average volume of 3,735,093. The firm has a fifty day moving average price of $115.47 and a two-hundred day moving average price of $112.27. The firm has a market cap of $195.75 billion, a price-to-earnings ratio of 34.30, a PEG 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 has a fifty-two week low of $99.71 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

Abbott Laboratories Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.