Abbott Laboratories $ABT Stock: Keybank National Association OH Grows Holdings

Keybank National Association OH raised its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,261,773 shares of the healthcare product maker’s stock after acquiring an additional 8,778 shares during the period. Keybank National Association OH’s holdings in Abbott Laboratories were worth $124,701,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Searle & CO. raised its holdings in shares of Abbott Laboratories by 11.5% during the 3rd quarter. Searle & CO. now owns 19,368 shares of the healthcare product maker’s stock worth $1,914,000 after acquiring an additional 2,000 shares during the period. 71 West Capital Partners boosted its position in shares of Abbott Laboratories by 3.6% during the 3rd quarter. 71 West Capital Partners now owns 12,500 shares of the healthcare product maker’s stock valued at $1,235,000 after acquiring an additional 435 shares during the last quarter. Pinion Investment Advisors LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $250,000. Vestor Capital LLC purchased a new stake in shares of Abbott Laboratories in the third quarter valued at about $104,979,000. Finally, Kestra Investment Management LLC acquired a new stake in Abbott Laboratories during the third quarter worth about $324,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. UBS Group dropped their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. TD Cowen reduced their price target on shares of Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, Robert W. Baird upped their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

Read Our Latest Research Report on ABT

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Mary Moreland sold 3,500 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $116.00, for a total value of $406,000.00. Following the sale, the executive vice president owned 100,791 shares of the company’s stock, valued at $11,691,756. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.1%

Shares of NYSE:ABT opened at $110.58 on Wednesday. The business has a 50-day moving average price of $103.99 and a 200 day moving average price of $101.74. The company has a current ratio of 1.45, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $191.53 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 1.94 and a beta of 0.54. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $132.02.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting the consensus estimate of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 18.04%. The firm had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period in the prior year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories’s dividend payout ratio is 94.03%.

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories is a global healthcare company that develops, manufactures and markets medical devices, diagnostic tests, nutritional products and branded generic medicines. Its products serve patients and healthcare professionals in hospitals, clinics and other care settings. Abbott’s offerings include the FreeStyle Libre continuous glucose monitoring system, cardiovascular and other medical devices, laboratory and rapid diagnostic tests, and nutrition brands such as Ensure and Similac. Its established pharmaceuticals business sells branded generic medicines in markets outside the United States.

Further Reading

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

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