M&T Bank Corp Has $125.79 Million Stake in Abbott Laboratories (NYSE:ABT)

M&T Bank Corp raised its holdings in Abbott Laboratories (NYSE:ABT) by 39.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,142,794 shares of the healthcare product maker’s stock after buying an additional 325,715 shares during the period. M&T Bank Corp owned 0.07% of Abbott Laboratories worth $125,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $37,000. Stuart Chaussee & Associates Inc. increased its position in Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Abbott Laboratories in the third quarter valued at approximately $40,000. Cornerstone Planning Group LLC lifted its position in shares of Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $46,000. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABT shares. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays decreased their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada dropped their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

ABT stock traded down $0.02 during midday trading on Friday, reaching $105.90. The company had a trading volume of 3,610,492 shares, compared to its average volume of 5,320,693. The company has a market capitalization of $183.76 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The stock has a 50 day moving average price of $112.52 and a 200-day moving average price of $108.51.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.