Abbott Laboratories (NYSE:ABT) Shares Sold by Sunflower Bank N.A.

Sunflower Bank N.A. cut its stake in Abbott Laboratories (NYSE:ABT) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,193 shares of the healthcare product maker’s stock after selling 221 shares during the period. Abbott Laboratories accounts for approximately 0.4% of Sunflower Bank N.A.’s investment portfolio, making the stock its 28th largest holding. Sunflower Bank N.A.’s holdings in Abbott Laboratories were worth $1,618,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Webster Bank N. A. increased its position in Abbott Laboratories by 0.9% in the third quarter. Webster Bank N. A. now owns 11,751 shares of the healthcare product maker’s stock worth $1,340,000 after buying an additional 105 shares during the period. CVA Family Office LLC increased its position in Abbott Laboratories by 11.7% in the third quarter. CVA Family Office LLC now owns 6,957 shares of the healthcare product maker’s stock worth $793,000 after buying an additional 731 shares during the period. Gilman Hill Asset Management LLC increased its holdings in shares of Abbott Laboratories by 1.3% during the third quarter. Gilman Hill Asset Management LLC now owns 9,548 shares of the healthcare product maker’s stock valued at $1,089,000 after purchasing an additional 125 shares during the period. Willner & Heller LLC raised its stake in shares of Abbott Laboratories by 2.4% during the third quarter. Willner & Heller LLC now owns 6,211 shares of the healthcare product maker’s stock valued at $708,000 after purchasing an additional 148 shares in the last quarter. Finally, Ayrshire Capital Management LLC raised its stake in shares of Abbott Laboratories by 1.2% during the third quarter. Ayrshire Capital Management LLC now owns 45,066 shares of the healthcare product maker’s stock valued at $5,138,000 after purchasing an additional 542 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABT. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective on the stock. Finally, Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.15.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

NYSE ABT traded up $0.50 on Friday, hitting $116.12. 3,471,291 shares of the company were exchanged, compared to its average volume of 5,728,511. The company’s 50 day moving average price is $113.13 and its 200-day moving average price is $108.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. Analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.