Atlantic Union Bankshares Corp Sells 4,950 Shares of Abbott Laboratories (NYSE:ABT)

Atlantic Union Bankshares Corp cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,159 shares of the healthcare product maker’s stock after selling 4,950 shares during the period. Atlantic Union Bankshares Corp’s holdings in Abbott Laboratories were worth $10,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the second quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories during the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.8 %

Abbott Laboratories stock opened at $118.95 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The firm has a market capitalization of $206.31 billion, a PE ratio of 36.16, a P/E/G ratio of 2.78 and a beta of 0.72. The company’s 50-day moving average is $115.76 and its 200-day moving average is $110.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is presently 66.87%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Oppenheimer started coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price on the stock. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.