Wesbanco Bank Inc. Has $12.21 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Wesbanco Bank Inc. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,066 shares of the healthcare product maker’s stock after selling 16,058 shares during the quarter. Wesbanco Bank Inc.’s holdings in Abbott Laboratories were worth $12,207,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Sivia Capital Partners LLC boosted its stake in shares of Abbott Laboratories by 3.7% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,572 shares of the healthcare product maker’s stock valued at $407,000 after purchasing an additional 129 shares during the last quarter. Grove Bank & Trust increased its position in shares of Abbott Laboratories by 1.5% during the 3rd quarter. Grove Bank & Trust now owns 38,844 shares of the healthcare product maker’s stock worth $4,429,000 after purchasing an additional 562 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares in the last quarter. Fiduciary Alliance LLC lifted its stake in Abbott Laboratories by 83.5% in the 3rd quarter. Fiduciary Alliance LLC now owns 7,304 shares of the healthcare product maker’s stock valued at $833,000 after purchasing an additional 3,324 shares during the last quarter. Finally, Novare Capital Management LLC lifted its holdings in Abbott Laboratories by 1.4% during the 3rd quarter. Novare Capital Management LLC now owns 106,549 shares of the healthcare product maker’s stock valued at $12,148,000 after purchasing an additional 1,434 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.0 %

Shares of ABT stock opened at $117.25 on Tuesday. 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 stock’s 50 day simple moving average is $113.31 and its two-hundred day simple moving average is $108.32. The company has a market cap of $203.97 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1 year low of $90.87 and a 1 year high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several recent research reports. Piper Sandler initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Piper Sandler Companies began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Raymond James reiterated a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday. Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $125.54.

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.