Hancock Whitney Corp Sells 1,169 Shares of Abbott Laboratories (NYSE:ABT)

Hancock Whitney Corp cut its holdings in Abbott Laboratories (NYSE:ABT) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,236 shares of the healthcare product maker’s stock after selling 1,169 shares during the period. Hancock Whitney Corp’s holdings in Abbott Laboratories were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC increased its stake in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,449 shares of company stock worth $15,463,316. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ABT shares. Royal Bank of Canada upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Stifel Nicolaus increased their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Citigroup lifted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE ABT opened at $129.38 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $224.39 billion, a PE ratio of 16.91, a P/E/G ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business’s fifty day moving average price is $130.57 and its 200-day moving average price is $122.31.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

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.